1. A year ago, a newly married couple decided not to buy a house, and they were looking at a house with a $200,000, 15-year monthly mortgage. The annual rate was 2.8%. Today, that same house and the same $200,000 monthly mortgage has an annual rate of 5.2%.
   1. What was the monthly payment for the 15-year monthly mortgage if they had taken out the mortgage a year ago?
   2. What is the monthly payment for the 15-year monthly mortgage based on todays rate?
   3. What would the monthly payment be if they took out a 30-year monthly mortgage based on todays rate?
   4. Did the couple hurt themselves by waiting? Explain with empirical evidence.

You do not have to report the amortization tables