You have just taken a 30-year loan of $300,000 to buy a condo in Chicago. The loans APR is 7.2%, and the payments are monthly. The first payment will be in one month.

a. How much is the monthly mortgage payment? ($2036.36)

b. How much is the interest payment and principal reduction (also known as principal payment) in your first mortgage payment? How much is the loan balance after your first payment? (Interest = $1800, Principal = $236.36, Balance = $297936.64)

c. How much is the loan balance right after your 100th mortgage payment?

(Only need part C please)