1.What is an amortized loan? 2. What is the relationship between the interest rate and number of years on an amortized loan and the total amount of interest paid 3.You've been house shopping and aren't sure how big a house you can afford. You figure you can handle monthly mortgage payments of $1,250 and you can get a 30-year loan with an APR of 6.5 percent compounded monthly. How big of a mortgage can you afford? In this problem, you are solving for PV, which is the amount of money you can borrow today 4.(Loan amortization) On December 31, Beth Klemkosky bought a yacht for $50,000, paying $10,000 down and agreeing to pay the balance in 10 equal end-ofyear installments at 10 percent interest on the declining balance. How big will the annual payments be