You plan to purchase a $100,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 8.25%. You will make a down payment of 20% of the purchase price.

1. Calculate your monthly payments on this mortgage.
2. Calculate the amount of interest and, separately, principal paid in the 25^th payment.
3. Calculate the amount of interest and, separately, principal paid in the 225^th payment.
4. Calculate the amount of interest paid over the life of this mortgage.

(PLEASE SHOW WORK NO EXCEL CALCULATIONS!)