Use the amortization table . Find the monthly mortgage payments for 196,000 loan at %6.25 for 20 years Monthly MortgageRate (%)15 Years5.005.255.505.756.006.256.506.757.007.25Payment per $100020 Years7.90796.59968.0388 6.73848.17086.87898.30417.02088.43867.16438.57427.30938.71117.45578.84917.60368.98837.75309.12867.903830 Years5.36825.52205.67795.83575.99556.15726.32076.48606.65306.8218MacBook

Present value of annuity With periodic interest rate (r), period (n) and periodic payment (PMT), the…

Answered: Monthly Mortgage Rate (%) 15 Years…

Business

Finance

Monthly Mortgage Rate (%) 15 Years Payment per $1000 20 Years 30 Years

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Use the amortization table . Find the monthly mortgage payments for 196,000 loan at %6.25 for 20 years

Monthly Mortgage
Rate (%)
15 Years
5.00
5.25
5.50
5.75
6.00
6.25
6.50
6.75
7.00
7.25
Payment per $1000
20 Years
7.9079
6.5996
8.0388 6.7384
8.1708
6.8789
8.3041
7.0208
8.4386
7.1643
8.5742
7.3093
8.7111
7.4557
8.8491
7.6036
8.9883
7.7530
9.1286
7.9038
30 Years
5.3682
5.5220
5.6779
5.8357
5.9955
6.1572
6.3207
6.4860
6.6530
6.8218
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