Normal No Spacing Heading! 10. Using the Amortization Table to answer the following questions (27pts) Mortgage amount Cost of home $300,000- 20% down Number of monthly payments = 30 years = Interest rate 4.125% Loan originates - April 2020 YEARS MONTHLY PRINCIPAL INTEREST BALANCE PAYMENT PAID PAID YEAR 2 1.163 8,445 19,471 231.555 YEAR 101,163 50,123 89,456 189,877 YEAR 15 1,163 84,074 125295 155,926 YEAR 20 1.163 125,786 153,372 114,214 YEAR 25 1,163 177,035 171,913 62,965 YEAR 30 1.163 2 40,000 178,737 0 TOTALS 1,163 240,000 178,737 0 a. What is the mortgage amount? b. What percent will you pay in interest? c. In year 15 how much will you still owe on the house? d. At the end of the loan how much will you have paid in interest? e. How many payments will you make? f. In year 20, will you have paid for more than half of the house? YES or NO 6. How much was your down-payment? h. In what year will you have paid off this loan? i. At the end of the loan, what will you have paid in total for this house? 00DKI DO