Exercise #4 [First Pass) John has a 30-year $100,000 mortgage with monthly payt 30-year $100,000 mortgage with monthly payments based on a 12% interest rate convertible monthly. The first payment is due in one month. Find X such that to each monthly payment (starting with the first payment) one month. Find X such that if John decided to add X went (starting with the first payment) the term of the mortgage would be reduced to 25 years. A. Less than $20 B. At least $20, but less than $30 C. At least $30, but less than $40 D. At least $40, but less than $50 E. At least $50 Exercise #4 [First Pass) John has a 30-year $100,000 mortgage with monthly payt 30-year $100,000 mortgage with monthly payments based on a 12% interest rate convertible monthly. The first payment is due in one month. Find X such that to each monthly payment (starting with the first payment) one month. Find X such that if John decided to add X went (starting with the first payment) the term of the mortgage would be reduced to 25 years. A. Less than $20 B. At least $20, but less than $30 C. At least $30, but less than $40 D. At least $40, but less than $50 E. At least $50