Find the indicated amounts for the fixed-rate mortgages. Monthly payment Mortgage per $1,000 Purchase Total Down Mortgage Interest payment amount Interest price of home paid for mortgage Years rate payment paid $85,000 $8,000 6.00% 25 Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed. The mortgage amount is S 77000 . (Round to the nearest dollar as needed.) The monthly payment per $1,000 is $ 6.44'. (Round to the nearest cent as needed.) The monthly mortgage payment is (Round to the nearest cent as needed.)
Find the indicated amounts for the fixed-rate mortgages. Monthly payment Mortgage per $1,000 Purchase Total Down Mortgage Interest payment amount Interest price of home paid for mortgage Years rate payment paid $85,000 $8,000 6.00% 25 Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed. The mortgage amount is S 77000 . (Round to the nearest dollar as needed.) The monthly payment per $1,000 is $ 6.44'. (Round to the nearest cent as needed.) The monthly mortgage payment is (Round to the nearest cent as needed.)
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 5FPE
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Question
![Find the indicated amounts for the fixed-rate mortgages.
Monthly
payment Mortgage
рayment
Purchase
Total
Down Mortgage Interest
payment amount
Interest
price of
home
paid for
mortgage
Years
rate
paid
per
$1,000
$85,000 $8,000
6.00%
25
Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed.
The mortgage amount is S 77000 . (Round to the nearest dollar as needed.)
The monthly payment per $1,000 is S 6.44'. (Round to the nearest cent as needed.)
The monthly mortgage payment is S (Round to the nearest cent as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdabd4ed5-7fcf-477f-a892-c086b0fce6e3%2F23cc9456-9f24-40d6-b660-bf60bc44c30b%2F4dwfbuh_processed.png&w=3840&q=75)
Transcribed Image Text:Find the indicated amounts for the fixed-rate mortgages.
Monthly
payment Mortgage
рayment
Purchase
Total
Down Mortgage Interest
payment amount
Interest
price of
home
paid for
mortgage
Years
rate
paid
per
$1,000
$85,000 $8,000
6.00%
25
Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed.
The mortgage amount is S 77000 . (Round to the nearest dollar as needed.)
The monthly payment per $1,000 is S 6.44'. (Round to the nearest cent as needed.)
The monthly mortgage payment is S (Round to the nearest cent as needed.)
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