6. You will be paying off a mortgage of $100,000 over the next 25 years. You have signed a loan agreement with the Toronto Dominion Bank to secure a rate of 15.4%, however you are planning to re-negotiate the loan at the end of 10 years:

a) How much will your payments be over the first 10 years?

b) What is the amount of principal that you paid off with the first payment?

c) How much principal remains to be paid after the first year?

d) How much will remain to be paid off after you've made your final payment in the 10th year?

e) If you wish to make payments of $900 a month for the remainder of the loan, what is the effective annual rate of interest that you will have to negotiate in order to pay off the remainder of your loan in the next 20 years?

f) If you wish to pay off the remainder of the loan by making payments of $500, and the only annual effective rate you can get is 6%, then how long will it take to pay off the loan? (Round to the nearest year)

g) What will be the total amount of interest paid over the course of the 25 years, if you do not renegotiate the loan, and instead the interest rate remains at 15.4%.