1. You are applying for a mortgage loan at 4.25% over 30 years with monthly payments. The home you are considering is at a price of $229,000. Lenders are offering 80% loan to value mortgages to you. What will be your monthly mortgage payment for principal and interest?
   1. $901.23(right answer)
2. (answer this question) Same facts as #1 above, what if you paid an extra $75 each month. How long would it take to pay off the loan in full ?
   1. 268 months
   2. Almost 22 years
   3. 309 months
   4. About 284 months