Question 5. When you purchased your house, you took out a 30-year annual-payment mortgage with an interest rate of 6% per year. The annual payment on the mortgage is 12,000. a) What is the value of the house? You have just made a payment and have now decided to pay the mortgage off by repaying the outstanding balance. What is the payoff amount if b) You have lived in the house for 12 years (so there are 18 years left on the mortgage)? So what proportion of the house do you now own assuming it still has the same value? c) You have lived in the house for 18 years (so there are 12 years left on the mortgage)? What proportion do you now own