PROBLEM 2 A certain real estate investor purchases a property worth $3,450,000 for development. The developer puts down $1,200,000 in cash and finances the balance of the purchase with a 30-year fixed-rate mortgage at 7.2 percent annual rate. PART A: How much must the investor pay monthly on this mortgage (to the nearest dollar)? Show clearly all work, carrying all calculations out to four (4) decimal places. Give your answer in a dollars and cents format. Highlight in bold your answer. (5 pts) PROBLEM 2 PART B Refer to the information in Problem 2. After five years, the investor decides to refinance the remaining current balance due on the mortgage loan. At this point interest rates have fallen to a 5 percent annual rate. How much has the investor payed in interest on the original loan to this point (to the nearest dollar)? Show clearly all work. Give your answer in a dollars and cents format. Highlight in bold PROBLEM 2 PART C Refer to the information in Problem 2. How much must the investor pay to retire the balance due on the mortgage (to the nearest dollar)? Show clearly all work. Give your answer in a dollars and cents format. Highlight in bold your answer. (2 pts) PROBLEM 2 PART D Refer to the information in Problem 2. Now assume the investor refinances the old mortgage using a 20-year mortgage with a 5 percent interest rate. If the investor puts down an additional $300,000 on the loan (thus reducing the amount borrowed), how much must the investor pay monthly on this new mortgage (to the nearest dollar)? Show clearly all work, carrying all calculations out to four (4) decimal places. Give your answer in a dollars and cents format. Highlight in bold your answer. (5 pts)