Loan Amortization Problem Type your full name in the following order First Middle Last Number of letters in full name Now assume that your annual salary number of letters in your full name x S45,000 and that the bank you want to borrow from, has determined that it will lend you, loan amount- your annual salary x 2.5 interest rate number of letters in your full name x 0.9% Assume that you will borrow for 15 years and you will make monthly payments at the end of each month. A) Calculate your monthly payment (Type your calculator inputs, i.e. N-, PV- and so on) B) Calculate the total intere st amount you will pay over the life of the loan C) If you had 10% of the amount you could borrow in your savings and you could use it as a down payment (ie. in this case, you borrowed only 90% of the original amount) how much lower would have been the total interest you would have paid over the life of the loan (compared to what you found in B)? Assume all other terms of the loan remain the same