Q4. You have obtained a $135,000, 6.5%, 30-year mortgage? What is your monthly payment? How much will you pay into principal the 3rd month of this mortgage? How much interest will you pay in the 3rd month of this mortgage? How much will you pay into principal the 3rd year of this mortgage? How much will you pay into interest in the 3rd year of this mortgage? What will your balance be at the end of year 3? If your bank charged you 2.5 points to obtain this loan, and you keep it for 30 years, what yield (APR) will the bank earn? What will the Federal Truth in Lending APR be (Hint: Round to the nearest 1/8%)? If you must pay $850 in other fees to close this loan, what is the cost to you of this loan (expressed as an APR), assuming you keep the loan for 30 years? If you keep the loan only 3 years, what will the lender yield be (APR)? If you keep the loan 3 years, what will your Effective Borrowing Cost be (APR)?