The following information is for the next five questions Ryan and Laurie Middleton just purchased their first home with a traditional (monthly compounding and payments) 6 30year mortgage loan of $150,000 How much is their monthly payment A $1060 90 B $740 79 C $899 31 D $3045 16 E $7746 75 What is their interest payment during the first month of the second year What is their principal payment during the first month of the second year What is their interest payment during the 25 th year What is their principal payment during the 25 th year

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Question: The following information is for the next five questions. Ryan and Laurie Middleton just purchased their first home with a traditional (monthly compounding and payments)

The following information is for the next five questions. Ryan and Laurie Middleton just purchased their first home with a traditional (monthly compounding and payments) 6% 30year mortgage loan of $150,000.

How much is their monthly payment?

	A.	$1060.90
	B.	$740.79
	C.	$899.31
	D.	$3045.16
		E. $7746.75 What is their interest payment during the first month of the second year? What is their principal payment during the first month of the second year? What is their interest payment during the 25^th year? What is their principal payment during the 25^th year?

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