entValExercise3.xls Present ValExercise 3.xls (18 KB) Page of 2 Class Exercises Chapter 9 The American Dream is at hand. After scrimping and saving, you can now place a down payment on your home and afford a whopping mortgage. You decide to put 20% down on a $500,000 home with a 30 year mortgage at 4% annually. You are making monthly payments... 1) What is the first payment? How much is going to interest and to principal? 2) How much interest will you pay over the life of the loan