Problem 4 and 5-8 House Appreciation and Mortgage Payments Say that you purchase a house for $222,000 by getting a mortgage for $195,000 and paying a down payment of $27,000. If you get a 15-year mortgage with an interest rate of 7 percent, what are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment What would the loan balance be in five years? (Use a payment value rounded to 2 decimal places. Round your final answer to 2 decimal places.) Loan balance If the house appreciates at 4 percent per year, what will be the value of the house in five years? (Round your final answer to 2 decimal places.) Future value How much of this value is your equity? (Use intermediate values rounded to 2 decimal places. Round your final answer to 2 decimal places.) Equity