Consider your parent's home mortgage: 10 years ago your parents purchased a $240,000 home. At the time they paid 10% as a down payment, and borrowed the remaining 90% via a 30 year mortgage with a fixed interest rate of 6% APR. Payments were made monthly and are of a constant size each month. The first payment was paid one month after the purchase. Note: In many countries (for example, in the U.S.) on your personal taxes, you can often deduct interest paid on a home-which effectively lowers the amount you have to pay in taxes. Therefore, understanding how to compute interest paid month by month (and adding up the 12 months that comprised the tax year) is useful when it comes time to pay your taxes.

Note (Cont.): keep precision high, using 6 significant digits.

A) For the very last payment (due in 20 years from today), what proportion of the payment will be associated with interest paid? (Express your answer as a decimal-not as a percent). Be precise in your computations.

B) Looking at all 360 payments collectively, how much money in total (simply added up) went toward paying down principal?

C) Looking at all 360 payments collectively, how much money (simply added up) in total went toward interest?

D) Overall, what proportion of the total payments went toward interest? (Express your answer as a decimal-not as a percent).