Question 1: Fixed-Rate Mortgage Question (35 points) You must either attach your excel worksheet or explain your calculator computation. What is the monthly payment required on the following fully amortizing mortgage: (5 points) maturity: 30 years rate: 5.625% Amount: $100,000 What is the remaining unpaid loan balance (for the loan described in problem 1) after 7 years? (5 points) For the loan described in problem 1, provide the following information for the 50*month a. Balance due on the loan at the start of the 60" month (i.e., after the borrower has made 59 payments) (5 points) b. The borrower's regular payment that will be due at the end of the month i) how much of that regular payment does the monthly interest represent? (5 points) 1) how much of that regular payment is attributable to the repayment of principal? (s c) Because only the interest part of the payment is deductible on income taxes, borrower's need to know how much interest they pay each year. For the loan described in problem 1, calculate how much interest the borrower pays in the seventh year of the loan. (10 points) points)