Suppose you want to buy a house. $300,000 $ 50,000 Cost Down payment Loan Interest rate Repayment $250,000 9% (APR) Equal monthly installment over 30 years (1) What will be the monthly payment (excluding insurance and property tax escrow payments)? (2) Suppose you want to pay $1900 per month, other things equal. How many months would you have to extend the mortgage? (3) Suppose the bank was willing to incorporate an ending payment of $100,000 (so called "balloon payment"). What would be the interim monthly payments