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3. [Loan Amortization] You have just obtained a $300,000 mortgage loan from the Chase bank toward the purchase of a home at 6% APR. The

3. [Loan Amortization] You have just obtained a $300,000 mortgage loan from the Chase bank toward the purchase of a home at 6% APR. The amortization schedule of your mortgage is set in the monthly payments for the next 30 years.

A) What is the monthly loan payment?

B) What is the balance of the loan after 20 years of loan payments?

C) From the previous mortgage loan question, what will be the principal and the total interest that you pay during the first 10 years of the loan payments?

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