You plan to purchase a $250,000 horse using a 30-year mortgage obtained from your local bank. The mortgage rate offered to you is 5.25% percent. You will make a down payment of 20 percent of the purchase price.

1. What is the monthly payment of 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 250^th payment?
4. If you have already paid up to 300 payments, what are the amount interest and separately principal already paid?
5. What is the amount of interest paid over the life of this mortgage?