2. You borrow a 15-year $289,000 mortgage loan at annual interest rate of 3.50%. a. What is the monthly mortgage payment for your mortgage (payment is made at the end of each month)? b. Find the amount of principal paid, interest paid, and the ending balance for the first month. C. Find the amount of principal paid, interest paid, and the ending balance for the last month (i.e., month 180) d. If you pay $200 more each month for principal payment in addition to the monthly payment you calculate in part (a), you can pay off the loan in how many months (or years)? e. You don't pay an extra amount each month. But, your lender allows you to pay biweekly, you can pay off the loan in how many years (or months)? (10 points)

2. You borrow a 15 -year $289,000 mortgage loan at annual interest rate of 3.50%. a. What is the monthly mortgage payment for your mortgage (payment is made at the end of each month)? b. Find the amount of principal paid, interest paid, and the ending balance for the first month. c. Find the amount of principal paid, interest paid, and the ending balance for the last month (i.e., month 180) d. If you pay $200 more each month for principal payment in addition to the monthly payment you calculate in part (a), you can pay off the loan in how many months (or years)? e. You don't pay an extra amount each month. But, your lender allows you to pay biweekly, you can pay off the loan in how many years (or months)? (10 points)