You are applying for a mortgage loan at 5.75% over 30 years with monthly payments. The home you are considering is at a price of $329,000. Lenders are offering 80% loan to value mortgages to you. What will be your monthly mortgage payment for principal and interest?

a. $1,302.53

b. $1,536

c. $901.23

d. $977.20

Same facts as #8, what will be the balance of the loan after you have paid for a full 10 years?

a. $218,772

b. $145,540

c. $185,524

d. $97,027