Heidi has just signed a mortgage on a house. The mortage requires Heidi to make monthly payments of $1,165.62 for 15 years at 5.25% interest.

1) What price did Heidi pay for the house?

2) What is the total amount of cash Heidi will pay over

15 years?

3) What would the monthly payments be if Heidi extended the loan to 30 years at 5.25%?

4) If Heidi extended the mortgage to 30 years, what is the total amount of cash Heidi would pay over 30 years?