Contract # 1 2 3 4 Size Fees 200,000 1600 200,000 1600 200,000 1600 200,000 1600 Maturity Rate Points 30 years 30 years 15 years 15 years 5.25% 0.25 4.75% 2.25 4.25% 4.50% 1.375 0.125 Above are the price quotes from Bank of America for 4 fixed-rate mortgages as of September 17, 2009, two with a 30-year maturity and two with a 15-year maturity. For each loan, the loan size is $200,000 and the closing fees are $1,600. 1) For each mortgage, compute the monthly payment and the APR. Show your work in terms of the data you input into your Excel functions. (Once you have done the first, you should be able to organize the process to do all the others very rapidly)