5) Interest portions and remaining balance. The Jackson family is interested in buying a home. The family is applying for a $125,000, 30-year mortgage. Under the terms of the mortgage, they will receive $125,000 today to help purchase their home. The loan will be fully amortized over the next 30 years. Current mortgage rates are 8 percent. Interest is compounded monthly and all payments are due at the end of the month. a) What is the monthly mortgage payment? ($917.21) b) What will be the remaining balance on the mortgage after the first year? ($123,955.80) c) What portion of the mortgage payments made during the first year will go toward interest? (90.51%) d) What portion of the 25th mortgage payment will go toward interest? (89.27%)