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A fully amortized mortgage is made for $100,000 for 10 years. Interest rate is 6 percent per year compounded monthly. a) What is the monthly

A fully amortized mortgage is made for $100,000 for 10 years. Interest rate is 6 percent per year compounded monthly.

a) What is the monthly payment amount?

b) What is balance of the loan at the end of 5 years?

c) What is the total interest paid by the end of the fifth year?

d) What is the total principal paid at the end of the tenth year?

Please do not use excel.

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