consider the mortgage loan of $150,000 at a nominal 6% yearly interest applied monthly at a rate of 0.5% per month. monthly payments of $1,000 are being made on this loan. (a) determine how much is owed on this loan at the end of the first, second, third month and fourth months. show the work that leads to your answers. evaluate all expressions.consider the mortgage loan of $150,000 at a nominal 6% yearly interest applied monthly at a rate of 0.5% per month. monthly payments of $1,000 are being made on this loan. (a) determine how much is owed on this loan at the end of the first, second, third month and fourth months. show the work that leads to your answers. evaluate all expressions.
