7. You decide to buy a home for $150,000 and make a 20% down payment on the purchase of the home. You can get a 30-year mortgage with annual interest rate of 4.5%.

a) What is the down payment?

b) How much will you borrow?

c) Use a website to find the monthly payment.

d) True or False. You will pay the same amount of interest each month. Explain.

e) What is the total interest paid on this loan in 30 years?