$****$ It is $3$ questions total that are all corralated. $***$

Question $1***$:

Your offer to buy a $$1\mathrm{.}25$M house has been accepted.

Down payment is $20\%$ and you will use a $30-$year loan to pay off the remaining $80\%.$

Interest rate is $7\%$ APR compounded monthly, i$.$e$.$ monthly rate is $7\%/12.$

What will be the sum of the $12$ monthly payments?

Hint: calculate the monthly payment first, then multiply it by $12$

A$\mathrm{.}99,795$

B$\mathrm{.}79,836$

C$.6653$

D$.$none of the above

Question $2****$:

In the previous question, what will be the loan balance at the end of year $1.$

A$\mathrm{.}989,842$

B$\mathrm{.}989,414$

C$\mathrm{.}920,164$

D$.$none of the above

Question $3****$:

In the previous two Questions.

Suppose by the end of year $1,$ loan balance is $989,842.$

Suppose the $12$ monthly payments in the $1$st year sum up to $$79836$

What is the interest expenses in the first year?

A$\mathrm{.}70000$

B$\mathrm{.}80,586$

C$\mathrm{.}69678$

D$.$none of the above