1. You are taking out a $100,000 mortgage loan to be repaid over 25 years in 300 monthly payments.
   1. If the interest rate is 16% per year, what is the amount of the monthly payment?
   2. If you can only afford to pay $1,000 per month, how large a loan could you afford to take?
   3. If you can afford to pay $1,500 per month and need to borrow $100,000, how many months would it take to pay off the mortgage?
   4. If you can pay $1,500 per month, need to borrow $100,000, and want a 25-year mortgage, what is the highest interest rate you can pay?

`````Please show work