57. As you will see in Chapter 22, if you had a 30-year $200,000 mortgage at 8% on a house or apartment, three-quarters of the way through the mortgage—after 22.5 years of payments—you would still owe half the amount, or about $100,000! You also would have paid about $300,000 in interest. (Current interest rates are much lower, but even at 4.75%, you would still owe $80,000 after 22.5 years.) What is the present value of $100,000, 22.5 years from now, at an interest rate of 8%? (If you put this much into a down payment, but made the same-size payments as for the 30-year mortgage on $200,000, you would own the house free and clear after 22.5 years.)