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Suppose that 10 years ago you bought a home for $110,000, paying 10% as a down payment, and financing the rest at 9% interest for 30 years. (a) Let's consider your existing mortgage: (i) How much money did you pay as your down payment? () How much money was your mortgage for? (ii) What is your current monthly payment? (iv) How much total interest will you pay over the life of the loan? (b) This year, you check your loan balance. As we've discussed, only part of your payments , have been going to pay down the loan; the rest has been going towards interest. You see that you still have $88,536 left to pay on your loan. (i) How much of the loan have you paid off? This is the difference between what you borrowed initially and what you still owe. ) () How much money have you paid to the loan company so far? In other words, what is the total of all of the monthly payments you made over the 10 yeas? (iii) How much interest have you paid so far? 110,006-11000-99000 30 d =llo/ 0, 0 92) , ) . 2- () ( + ( 24 | 796.85)(30)(12) - 99000 - 187, 767.50