Upon graduation, youve landed a good long-term job with a major corporation. Your first investment is a house with a total financed cost of $200,000. Since the fixed interest rate is so low for 15-year loans, an amazing 3.19%/year/month, you decide to pay off the note in 15 years with 180 equal end of month payments. Answer the following questions:

a). What are the monthly mortgage payments for principal and interest?

b). What portion of the 90th payment is interest?

c). What portion of the 90th payment is principal repayment?

d). What is the remaining balance immediately after the 12th year (144th payment)?

e). If you choose to payoff the loan at t=96, how much must you pay?