The Bhatts purchased a new home for $249,000 with a down payment of $42,000. They obtained a 25-year adjustable rate mortgage with the following terms. The interest rate is based on the one-year Treasury bill rate, which is currently at 0.5%, and the add-on rate, which is 2.5%. The initial rate period is 5 years, and thereafter the interest rate is adjusted once a year and a new monthly mortgage payment is calculated. a) Determine the Bhatts' initial ARM rate. b) Determine the Bhatts' initial monthly payment for principal and interest. c) If, after the 5-year initial rate period, the rate of the one-year Treasury bill rises to 1.0%, determine the Bhatts' new ARM rate. Felix is purchasing a brownstone townhouse for $2,300,000. To obtain the mortgage, Felix is required to make a 19% down payment. Felix obtains a 25-year mortgage with an interest rate of 5.5%. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest