Points 1. Tara takes a 30-year monthly payment mortgage loan for $300,000 having a nominal interest rate of 6% convertible monthly. She arranges to make graduated payments where the first year's monthly payment is X, the second year's monthly payment is X+100 and all subsequent monthly payments are X+200. (19) a. What is her initial monthly payment X? x x x 700 N=30 PV = 300 000 i= 6%* .51. Prix(022) - 100 (IQ) 21.06 V PV=x (13.7648315) + 100 (1 h 30 1 ) ) 057602 100 (14.59072 - 5.2235039 ) 300000 = X.13.76487115+15612,36179 God x = 20, b. Find the balance at the end of one year. Points 1. Tara takes a 30-year monthly payment mortgage loan for $300,000 having a nominal interest rate of 6% convertible monthly. She arranges to make graduated payments where the first year's monthly payment is X, the second year's monthly payment is X+100 and all subsequent monthly payments are X+200. (19) a. What is her initial monthly payment X? x x x 700 N=30 PV = 300 000 i= 6%* .51. Prix(022) - 100 (IQ) 21.06 V PV=x (13.7648315) + 100 (1 h 30 1 ) ) 057602 100 (14.59072 - 5.2235039 ) 300000 = X.13.76487115+15612,36179 God x = 20, b. Find the balance at the end of one year