Question $1$

Consider a $$500,000$ mortgage loan with $30$ years of maturity and $7\%$ of interest

rate $($monthly paid$).$ What is the monthly payment on the mortgage? How much of

the monthly payment would serve as an interest payment and as a principal

repayment on the ${36}^{th}$ month?

Choices are listed in the following order: Monthly Payment $-$ Interest Payment $-$

Principal Repayment:

$$2,789\mathrm{.}36$;$$1,008\mathrm{.}36$;$$1,781\mathrm{.}00$

$$3,000\mathrm{.}00$;$$1,000\mathrm{.}00$;$$2,000\mathrm{.}00$

$$3,256\mathrm{.}85$;$$1,245\mathrm{.}35$;$$2,011\mathrm{.}50$

$$3,326\mathrm{.}34$;$$2,823\mathrm{.}93$;$$502\mathrm{.}41$