1. You are 35 and you are purchasing your first home. You would like to work only part time and live a minimalistic lifestyle. You found the perfect tiny house with a large community garden in Moolloollaba. The house costs $130,000, and you have saved $50,000. If you take out a 20-year loan for the remaining amount, and the bank charges an interest rate of 4% p.a. compounded monthly, what are your monthly payments?

   		$484.78
   		$787.77
   		$302.99
   		$429.23