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Based on Exhibit 9-9. or using a financial calculator, what would be the monthly mortgage payments for each of the following situations? (Round time value factor and final answers to 2 decimal places.) What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate offect the monthly payment? Monthly Mortgage Payment a $79,000, 15-year loan at 7.00 percent b. $140,000, 30-year loan at 8.50 percent $97.000, 20-year loan at 6.00 percent. d:1. Longer mortgage terms mean a d-2 For increase in mortgage rate monthly payment monthly payment is required