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. Same facts as #8, how long will it take you to pay off 75% of the loan ?
   1. About 25.3 years
   2. About 29 years
   3. 270 months

D.24 and years