Please refer to previous spreadsheet analysis as follows: Prepare a 15-year MONTHLY amortization schedule. The price of the property is $200,000 and there is a 20 percent down payment on the mortgage, which will be made at an interest rate of 6.125 percent. Of the total mortgage payment due in the first month, how much of it is for interest payment?

Question 4 options:

1)

$1,361.00

2)

$1,020.83

3)

$9,800.00

4)

$816.67

5)

$3,510.05

Which of the following mortgage loans will have a larger monthly interest payment prior to the maturity of the shorter-term loan? Assume a 100-basis point spread between the two loans.

Question 15 options:

1)	30-year mortgage

2)	15-year mortgage

3)	Total interest payment would be the same

4)	Insufficient information