Mortgages, loans taken to purchase a property, involve regular payments at fixed intervals and are treated as reverse annuities. Mortgages are the reverse of annuities, because you get a lump-sum amount as a loan in the beginning, and then you make monthly payments to the lender. 12%fixednominalinterestrate(calledtheloansannualpercentagerateorAPR).Underthisloanproposal,yourmortgagepaymentwill per month. (Note: Round the final value of any interest rate used to four decimal places.) mortgage and 30-year mortgage will be ?(Note: Round the final value of any interest rate used to four It is likely that you won't like the prospect of paying more money each month, but if you do take out a 15 -year mortgage, you will make far instead of a 15-year mortgage? $1,382,261.76$1,490,250.96$1,274,272.56$1,079,892.00