Number of Years for the Loan Annual Interest 3 4 10 20 30 Rate 4% $29.53 $22.58 $10.12 $6.06 $4.77 5% 29.97 23.03 10.61 6.60 5.37 6% 30.42 23.49 11.10 7.16 6.00 8% 31.34 24.41 12.13 8.36 7.34 10% 32.27 25.36 13.22 9.65 8.78 12% 33.21 26.33 14.35 11.01 10.29 A borrower has taken out a mortgage for $75,000 at an annual interest rate of 5%. Assume that the borrower has decided to pay a down payment of $20,000, and the mortgage is for 10 years. a) Using the table of monthly payments on $1,000 loan, find the monthly payment on the loan. $ b) Find the total interest paid on the loan