Assume you want to purchase a $300,000 home. You wish to put a 20% down payment...

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Assume you want to purchase a $300,000 home. You wish to put a 20% down payment to avoid paying PMI (private mortgage insurance). You would like a 15-year fixed mortgage. The broker quotes you an annual rate of 4.8%, to be paid in monthly installments. What will be your monthly payment? What will be your first month's interest payment? What will be your first month's principal payment? What will be the remaining principal balance after month-1? Show the CF's for the first five and last five months. Assume you want to purchase a $300,000 home. You wish to put a 20% down payment to avoid paying PMI (private mortgage insurance). You would like a 15-year fixed mortgage. The broker quotes you an annual rate of 4.8%, to be paid in monthly installments. What will be your monthly payment? What will be your first month's interest payment? What will be your first month's principal payment? What will be the remaining principal balance after month-1? Show the CF's for the first five and last five months.