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The median home price in February, 2019 was approximately $315,000 (source: https://www.census.gov/constructionrs/pdf/uspricemon.pdf). Assume that a family is purchasing a typical house by making a $35,000

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The median home price in February, 2019 was approximately $315,000 (source: https://www.census.gov/constructionrs/pdf/uspricemon.pdf). Assume that a family is purchasing a typical house by making a $35,000 down payment and then financing a $280,000 mortgage at an annual interest rate of 4.50% (a typical rate for a 30-year loan in early 2019). The size of their monthly payment will depend on the term of the mortgage. The Excel function "pit" can be used to compute these monthly mortgage payments. The 3 arguments of function "pint" are: 1) the monthly interest rate (0.045/12); 2) the total number of monthly payments; and 3) the mortgage amount. a. Find the monthly payments if the $280,000 was financed over 15 years

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