purchasing a 600 000 home with a down payment of 150 000. he will be obtaining a 5 year, 8 % , 25 year amoritization canadian mortgage from CIBC Bank to be paid monthly.

a) what is the future value of the loan in 3 years with no payments

b) what is the future value of payments in 3 years

c) what is the outstanding loan balance after 3 years

d) how much interest has been paid over the first 3 years