You found a house in Henderson that you like and will cost you $433,000. Wells Fargo checks your credit history and informs you that you can borrow a 30-year 3.4%-APR mortgage loan for up to$400,000. You have saved $55,000, of which$4,000 will be used forclosing costs, and the rest as down payment. Build an amortization table and show: Plot a “100% Stacked Area” graph for 1.2, showing how the interest payment and the principal paymentwillchange over the life of the loan. Label each axis clearly. 1.4.Since you will not pay down 20%, you will have to pay PMI per month until the remaining principal balance is below 80% of the original house price. For how many months will you need to pay PMI?

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