1. Determine the monthly payment for each mortgage. The interest is compounded monthly. Mortgage amount Amortization period Interest rate a. $185 000 b. $220 000 25 years 30 years 6.25% 5.75% 2....

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Extracted text: 1. Determine the monthly payment for each mortgage. The interest is compounded monthly. Mortgage amount Amortization period Interest rate a. $185 000 b. $220 000 25 years 30 years 6.25% 5.75% 2. Determine the total interest paid for each of questions in question 1. 3. Using question 1, how much interest was paid in the first 6 months? Using question 1, how much principal was paid off the mortgage after six payments? 4.