The typical term of a foxed rate mortgage for a house is 30 years The mortgage has a nominal annual interest rate of 3.0 percent compounded monthly. and payments are due at the end of each month (a) (3 pt) What is the monthly payment (\$/month) if the borrowed principal is $100,000 ? Express your answer to the nearest dollar. (b) (3 pt) Suppose that the mortgage has the same term but that instead of quoting an interest rate, you are simply quoted a monthly payment of 5505.75 per month Based on this monthly payment, what is the nomual annual interest rate? Hint you can use trial and error to find the solution Express your answer as a percent with two decimal places. (c) (2 pt) At an interest rate of 5.5 percent, the monthly payment is $56779 per month What is the amount of interest that will be paid over the life of the mortaage ( $) ? Express your answer to the nearest dollar. (d) (3. pt.) The interest rate is typicaliy lowes if the term is shorter Suppose that you can get a 20-year loan at a nominal annual interest rate of 2.5 percen compounded monthly What would be the monthly payment ( $ /month)? Express your answer to the nearest dollat. (e) (2 pt) Assume that the monthly payment for (d) is $620/m onth (this is not the correct answer to (d)) What would be the total amount of interest paid o this loan (\$)? Express your answer to the nearest dollar