1. Richard Miyashiro purchased a condominium and obtained a30-year loan of$199,000at an annual interest rate of8.25%. (Round your answers to the nearest cent.)

(a) What is the mortgage payment?

$

(b) What is the total of the payments over the life of the loan?

$

(c) Find the amount of interest paid on the mortgage loan over the30years.

$

2.) The Mendez family is considering a mortgage loan of$350,500at an annual interest rate of6.8%.

(a) How much greater is their mortgage payment if the term is 20 years rather than 30 years?

$

(b) How much less is the amount of interest paid over the life of the 20-year loan than over the life of the 30-year loan?

$

3.) After making payments of$907.10for8years on your 30-year loan at8.3%, you decide to sell your home. What is the loan payoff? (Round your answer to two decimal places.)

4.) A homeowner has a mortgage payment of$999.10, an annual property tax bill of$594, and an annual fire insurance premium of$290. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.)