Mortgage Loans 5. What will the monthly mortgage payments be (PI only) on a $637,37515-year, 5.3% annual interest mortgage? (1 point) 6. What will the monthly mortgage payments be (PI only) on an $877,52830-year, 6.5\% annual interest mortgage? (1 point) TVM 7. Donovan has determined that he will need $3 million when he retires in 45 years. The current interest rate is 10%. How much does he need today to fully fund this goal at that rate? (1.5 points) 8. Emma's grandma promised to give her $24,000 when she graduates from college five years from now. Assuming an interest rate of 10% annually, what is the value of Emma's gift right now? ( 1.5 points)