Based on Exhibit 9-9. or using a financial calculator, what would be the monthly mortgage payments for each of the following situations? (Round time value factor and final answers to 2 decimal places.) What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate affect the monthly payment? Monthly Mortgage Payment $120,000, 15 year loan at 45 percent $80,000, 30 year loan at 5 percent $105,000, 20 year loan at 6 percent d-1 Longer mortgage forms meana 0-2 For increase in mortgage rate monthly payment monthly payment is required. Torm Rato 30 Years 25 Years 20 Yours 15 Yours 3.0% $4.22 $4.74 $5.55 $6.91 3.5 4.49 5.01 5.80 715 4.0 477 5.28 6.06 7.40 4.5 5.07 5.56 6.33 7.65 5.0 5.37 5.85 6.60 7.91 5.5 5.68 6.14 6.88 8.17 6.0 6.00 6.44 716 8.43 6.5 6.32 6.67 7.45 8.71 70 6.65 7.06 7.75 8.98 7.5 6.99 7.39 8.06 9.27 8.0 7.34 7.72 8.36 9,56 8.5 7.69 8.05 8.68 9.85