Imagine you will buy your house in 5 years. The price is $550,000. You plan to make 10% down payment, when you buy your house in 5 years. The bank will give you 0.01% as an interest rate for your savings. In order for you to save 10% of your future house down payment in 5 years, how much do you need to save in each month? Use the finite difference method to find your monthly savings. (2 Points)

You plan to pay-off your mortgage in 30 years. Find the current mortgage rate first from the website and figure out your monthly payment using the finite difference method. In addition, what is the total interest during 30 years? (2 points)

In 5 years, the mortgage rate is changed to 2% higher than the current mortgage rate. With this new mortgage rate, what will be your new monthly payment? Use the finite difference method. In addition, what is the total interest during 30 years? (2 Points)