1. Calculating required down payment on home purchase. How much would you have to put down on a house costing 100,000 if the house had an appraised value of 105,000 and the lender required an 80...

1. Calculating required down payment on home purchase. How much would you have to put down on a house costing
100,000 if the house had an appraised value of
105,000 and the lender required an 80 percent loan-to-value ratio?

2. Changes in mortgage principal and interest over time. Explain how the composition of the principal and interest components of a fixed-rate mortgage change over the life of the mortgage. What are the implications of this change?