1. It is 1980 and you are wanting to step up from your starter home. Your family has grown, and you need the room. You have found a house you like and think you could purchase it for $165,000. You have equity of $15,000 after paying off the mortgage on your current home to put down on your new home. You want to keep your payments as low as possible, so you are going to finance with a 30 year mortgage at 12.25%

1. What will be your monthly payment?

Please do this in terms of a BA 2 plus calculator as that is what I sue to solve these problems. Thank you