Question 2 (10 marks) Question 2a) What are the monthly payments on a $500,000 mortgage assuming that the interest rate is 5% per annum and that the mortgage is paid off in 25 years by making equal monthly payments? Assume that payments are made at the end of each month. (3 marks) Also calculate: 2b) How much of the 5th payment will be applied to interest. (3 marks) 2c) By the end of year 10, what is the cumulative interest paid. (2 marks) 2d) By the end of year 10, what is the cumulative principal paid. (2 marks)