Find online sources to research home values and current interest rates for $15-$year and $30-$year fixed rate mortgages. Next, fill in the information related to your desired mortgage and use your information to answer the questions.

Write the name of the online source did you use to find your property:

Write your loan amount here $($this is how much need to borrow to buy your property$)$:

Write your interest rate here $($this is the interest rate you think you will qualify for$)$:

Write you term here $($choose either $15-$year or $30-$year fixed rate$)$:

a$)$ Complete the first $2$ rows of the amortization table below $($Excel can be used for payment amount, show work for other parts inside of table$).$

$\backslash$table$[[\backslash$table$[[$Payment$],[$Number$]],$Payment Amount,Interest Payment,$\backslash$table$[[$Principal$],[$Payment$]],$Balance of Principal$],[1,,,,],[2,,,,]]$

b$)$ The bank estimates the annual taxes to be $$3,475$ and the annual insurance to be $$3,850.$ Calculate the total monthly mortgage payment including escrow costs $($Show work$).$ Hint: use payment amount from part a$.$

c$)$ How much interest will be paid over the life of the loan if all payments are made on time $($Show work$)?$ Hint: use payment amount from part a$.$