Suppose you buy a house and you need a loan for $170,000. Your loan application has been approved and a bank will finance your mortgage at an interest rate of 4.5% per year compounded monthly. Find your monthly payment if the term of the loan is 25 years(300 payments). Find what your outstanding balance would have been after your 120^th payment. Assuming you could have afforded a monthly payment about $1, 300, what should the term of your loan have been