For each problem, state the formula to be used, variable for which you are solving, and the value for each given variable. Round your answers to the nearest cent. 1. You can afford a $1,200 per month mortgage payment. You've found a 30 -year loan at 4.5% interest. (a) How big of a loan can you afford? (2 pts) (b) How much total money will you pay the loan company? (2 pts) (c) How much of that money is interest? (2 pts) 2. You would like to have $500,000 when you retire in 15 years. How much should you invest each quarter if you can earn a rate of 6.8% compounded quarterly? (4 pts)