8)Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.10%. What portion of the payments during the first 25 months goes toward interest?

82.86%

80.53%

90.75%

85.39%

87.26%

10)What is the required monthly payment on a $620,000.00 mortgage. Assume a standard mortgage (360 months) with monthly payments. Use a nominal rate (monthly compounding) of 6.60%.

$4,124

$3,959

$3,899

$4,007

$4,325