You are researching the housing market in Bloomington, Indiana, and you come upon an advertisement offering to sell a house for $240,000 with a zero interest rate mortgage. All you have to do is agree to make $4,000 payments ($240,000 = 60 months) at the end of each month for five years. If you do so, the advertisement says you will not be charged any interest. When you see the offer, mortgages are typically being granted at a 6% annual interest rate. Required: 1. If the builder demands a 6% return on investment, what is the actual value of the house? How much "implied" interest will you pay over the five years that you are paying off the house? The present value factor for an annuity with 60 periods and an interest rate of 0.5% (6%/12 months) is 51.72556. (Round your answer to nearest whole dollar.) Actual value of the house Total Interest to be paid