Use your financial calculator to determine the monthly payments for each of the following $102,900 mortgage loans. Assume no prepayments.

a. 30-year fixed at 9 percent

b.15-year fixed at 8 percent

c.20-year fixed at 8.5 percent

a. The monthlypayment, PMT, on the30-year loan is $____. (Round to the nearestcent.)

b.The monthlypayment, PMT, on the15-year loan is $_____ (Round to the nearestcent.)

c. The monthlypayment, PMT, on the20-year loan is $_____. (Round to the nearestcent.)