3. You have purchased a home for $450,000. You place 25% as a down payment and negotiate a 4- year term for your mortgage with 4.5% APR, compounded quarterly. You choose to make monthly payments over a 30-year period to pay off the mortgage. a. What is the mortgage amount? b. What is the effective monthly interest rate? C. What are your monthly payments? d. After 3 years you decide to pay off the mortgage in its entirety. What is the balance remaining to be paid at this time? e. The penalty for early repayment is 3 months' interest. Assuming this is calculated in what would be months 37, 38, and 39 of the payment schedule, what is the total financial penalty? 3. You have purchased a home for $450,000. You place 25% as a down payment and negotiate a 4- year term for your mortgage with 4.5% APR, compounded quarterly. You choose to make monthly payments over a 30-year period to pay off the mortgage. a. What is the mortgage amount? b. What is the effective monthly interest rate? C. What are your monthly payments? d. After 3 years you decide to pay off the mortgage in its entirety. What is the balance remaining to be paid at this time? e. The penalty for early repayment is 3 months' interest. Assuming this is calculated in what would be months 37, 38, and 39 of the payment schedule, what is the total financial penalty