muntedu/webapps/assessment/take/take.jsp?course assessment id=412357_18 Course id 3633169 181Content id 7428405 Taquestion num 12 stopale state Remaining Time: 36 minutes, 08 seconds. Less th: Question Completion Status: Question 12 This is a problem that has FOUR questions. Therefore, please choose FOUR answers Use the following information to solve for FOUR quions below: On June you borrowed $350,000 to buy a house. The mortgage interest rate is 3.5%. The loan is to be repaid in equal monthly payments over 30 years. #1. What is your monthly payment ? #2. How much equity will you have in the house after 5 years? #3. How much interest have you paid during year 6 only? #4. How much interest will you be paying over the whole course of the loan? #1. MONTHLY PMT=$1572 #1. MONTHLY PMT = $1682 #1. MONTHLY PMT = $2112 #2. EQUITY UNTIL YEAR 5 = 35,255 #2. EQUITY UNTIL YEAR 5 = 36,060 #2. EQUITY UNTIL YEAR 5 = 39,155 #3. INT DURING YEAR 6 = 15,950 #3. INT DURING YEAR 6 = 19,320 #3. INT DURING YEAR 6 = 10,860 #4. TOTAL INTEREST = 215,795 #4. TOTAL INTEREST = 335,795 #4. TOTAL INTEREST = 295,795 Click Submit to complete this assessment