(6 marks) You are in the market for a home. You and your partner have saved up $240,000 for a down payment and would like to buy a $1,200,000 home in Vancouver. You meet with Royal Bank of Canada (RBC) and they offer you a 25-year mortgage at 4.66% p.a., compounded semi-annually. The payments will be monthly and at the beginning of the month. 1. (2 marks) What will your monthly mortgage payments be with RBC? 2. (2 marks) For your 120th payment, what is the interest portion of this payment? 3. (2 marks) Suppose you win the lottery in exactly 5 years after you open your mortgage with RBC. You would like to pay back the mortgage loan in a lump-sum payment. How much will you need to repay in 5 years time, assuming there are no penalty fees?