solve question number 5 and 7

Part 1: Complete the following showing your set-ups. All your comparisons will be made to this first home. 1. $220,000 with a 20 % down and with an You are making all comparisons to this home, buying price interest rate of 6.5%. a) Find the mortgage amount a. 2 points b) Find the monthly payment if the term b is 30 years. (Show the set-up) You will be comparing problems 2 and 3 to this and using this for your amortization. 4 points c) Find the monthly payment if the te is 15 years. 4 points d) Find the total interest on the 30-yea d loan. 2 points