Problem 4 [25 points]: Mortgage Financing (a) You borrowed an amount Po on a 30-year mortgage at r annual interest rate compounded daily. What is your monthly mortgage payment M3o? (b) Your employer pays you on a biweekly schedule instead of on a monthly schedule. You want to make a mortgage payment every two weeks in the amount of Mso/2. How many years sooner can you finish paying off your mortgage? Your answer should be independent of Po (c) Now suppose you borrowed Po on a 15-year mortgage at r annual interest rate com pounded daily. What is your monthly mortgage payment M15? d) How much less do you pay for the house overall with the mortgage in (c) compared to the mortgage in (a)