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and 3. You just purchased a $700,000 house with a 30-year fixed rate mortgage at 4.00%. The required down payment is 20% of the

and 3. You just purchased a $700,000 house with a 30-year fixed rate mortgage at 4.00%. The required down payment is 20% of the value of the house. command option a. What is your monthly mortgage payment? Round your final answer to 2 decimal places. b. If you want to pay off the mortgage in exactly 20 years, what monthly payment must you make? Round your final answer to 2 decimal places.

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