On your mortgage will have on the amount of interest you pay and the length of your loan. 1.) Using the Monthly Payment Formula we have been using in class find your monthly payment for a $150,000 30-year fixed rate mortgage at 3.5%. Show your work n o n los Monthly payment_$ 673.51 360 (17 m)n-1 = 150.000 (-985) (24.035) ((1+: 635/360 - 1 12