(5 points) $500,000 is the highest amount of a mortgage bearing a nominal annual interest rate of 12% compounded monthly that a family is capable of repaying in equal monthly payments over 30 years (starting one month after taking the mortgage). a) Based on the information provided, what is the highest monthly payment that the family is capable of making? Answer = $ b) What is the largest 30-year mortgage that the family can afford at a nominal annual interest rate of 12.1% compounded monthly? Answer = $ c) How long will it take the family to repay a $500,000 mortgage at a nominal annual interest rate of 12.1% compounded monthly if every month the family makes the highest possible payment it is capable of making? Answer = months