Note: No special formulas are necessary to answer the questions asked in this problem. Please analyze and use only the description and graph provided to answer the parts to this question. 3. Becky takes out a 30-year mortgage for which her monthly payment is $1400. During the early years of the mortgage, most of each payment is for interest and the rather small remainder is for principal. As time goes on, the portion of each payment that goes to interest decreases while the portion for principal increases, as shown in the following graph: 1500 1400- 1300 interest 1200 1100- 1000 900- 800- 700- -600- 500 400 300 200 Principal 100 100- 15 20 a. At the beginning of the loan, approximately how much of the $1400 monthly payment goes toward principal? b. Approximately how much of the $1400 monthly payment goes for interest in year 5? c. In what year will the monthly payment be equally divided between interest and principal?