Question $4$

You borrowed $$500,000$ for your new house with a $30-$year fixed$-$rate loan at an

annual interest rate of $4\mathrm{.}2\%.$ The first mortgage payment is due exactly one month

after you signed the contract. Your monthly mortgage payment is

$2,623\mathrm{.}33$

$2,445\mathrm{.}09$

$2,273\mathrm{.}23$

$$3,748\mathrm{.}75$