7. You have acquired a $115,000 mortgage at 7.125%, for 30 years. If you make a triple payment on the first anniversary of the mortgage, and then make the required payments from then on, how many fewer mortgage payments will you make than if you just paid your required amount for the life of the loan. 8. A reset mortgage allows for one interest rate reset during the life of the loan. If you have a 5/25, the mortgage rate will be reset after 5 years, to fully amortize at the end of the original 30 year period (i.e. after 25 more years). For a 55/8%,$100,000, mortgage, compute the reset payment if the new rate resets to 73/8%