Make sure that the loan is set to $200,000, the interest rate is 4% fixed, term 30 years. 1) Task 1 - If you pay an extra $200 a month, and pay $1200 additional payment every December for the next 19 years ... a) how much interest will you save, b) what date will the entire loan get paid , c) how much taxes will you save, d) what is the loan balance on year 15 ? e) how much was the total payment of the entire loan, f) how much was the total interest payment 2) Task 2 - If you pay an extra $150 a month and pay $500 additional payment every December for the next 20 years ... a) how much interest will you save, b) what date will the entire loan get paid , c) how much taxes will you save, d) what is the loan balance on year 10? e) how much was the total payment of the entire loan, f) how much was the total interest payment Change the interest rate to 3.5% and also make this a variable rate with 7 years fixed interest. Variable rate ARM loans usually have lower interest rates, but after 7 years - assume the interest rate goes up by .25% 31 Task 3 If you pay an extra $300 a month and pay $20,000 additional payment on the 85th month (or right after 7 years).. a) how much interest will you save, b) what date will the entire loan get paid , c) how much taxes will you save, d) what is the loan balance on year 12 ? e) how much was the total payment of the entire loan, f) how much was the total interest payment Task 4 - If you pay an extra $350 a month and pay $35,000 additional payment on the 85th month (or right after 7 years). a) how much interest will you save, b) what date will the entire loan get paid, c) how much taxes will you save, d) what is the loan balance on year 18 ? e) how much was the total payment of the entire loan, f) how much was the total interest payment