4. Complete the following table to compare the financing options available to the Digby's. Financing option Monthly Total Total Interest Total Payments Total Cost Payment Payments Paid on Mortgage of House Take points and pay them at closing Take points and finance them Do not take points 5. Blake has a 15-year S225,000 mortgage on a cottage with a 5% interest. After living the cottage for 10 years, Blake has decided to pay off the mortgage in a single lump-sum payment a. What is Blake's monthly payment on the mortgage? b. Determine the remaining balance on the mortgage after 10 years. This is the size of the single lump-sum payment Blake would have to make to pay of the mortgage. i. Consider: How many years are left on the 15-year mortgage? ii. What would the principal be on a mortgage of that duration with the same monthly payments and interes rate as the 15-year mortgage? This would be the same as the remaining principal on the loan. c. How much principal has Blake paid on the mortgage over the 10-year period? d. What have Blake's total payments been on the mortgage over the 10-year period? c. How much interest has Blake paid on the mortgage over the 10-year period? 10 years is 2/3 or 67% of the lifetime of the original 15-yeat mortgage. What percent of the principal has Blake paid off in 10-years? 5