This is very tricky and please MAKE USE OF DIFFERENTIAL EQUATION to calculate this. MANY OTHER CHEGG ANSWERS ARE WRONG SO if you are not sure, please don't answer

You buy a house for $320000, and take out a 30-year mortgage at 6% interest. For simplicity, assume that interest compounds continuously. A) What will be your annual mortgage payment? $ per year B) Suppose that regular raises at your job allow you to increase your annual payment by 7% each year. For simplicity, assume this is a nominal rate, and your payment amount increases continuously. How long will it take to pay off the mortgage? years You buy a house for $320000, and take out a 30-year mortgage at 6% interest. For simplicity, assume that interest compounds continuously. A) What will be your annual mortgage payment? $ per year B) Suppose that regular raises at your job allow you to increase your annual payment by 7% each year. For simplicity, assume this is a nominal rate, and your payment amount increases continuously. How long will it take to pay off the mortgage? years