You borrow $500,000 to purchase a home. The loan is for 30 years at an interest rate of 3.6% per year and monthly installments

. a) What is your monthly installment?

b) What is the total interest paid over 30 years

c) How much interest did you pay in your first payment?

d) How much interest did you pay in the first year if the remaining principal balance on the loan at the end of the first year is $490,566.64? (Assume you made the same monthly payments calculated in part (a) above)