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Use the following amortization chart: Selling price of home Down payment $ 5,000 Principal (loan) $ 94,000 Rate of interest Years 5.5% 30 Payment per $1,000 $ 5.6779 $ 99,000 What is the total cost of interest? Monthly mortgage payment $ 533.72 Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar. Total cost of interest

Use the following amortization chart: Selling price of home Down payment $ 5,000 Principal (loan) $ 94,000 Rate of interest Years 5.5% 30 Payment per $1,000 $ 5.6779 $ 99,000 What is the total cost of interest? Monthly mortgage payment $ 533.72 Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar. Total cost of interest

Essentials Of Investments
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
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Use the following amortization chart: \table[\table[[elling price], [of home],[$99,000 Use the following amortization chart: Selling price of home $ 99,000 Down payment $ 5,000 Principal (loan) $ 94,000 Rate of interest 5.5% Years 30 Payment per $1,000 $ 5.6779 What is the total cost of interest? Monthly mortgage payment $ 533.72 Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar. Total cost of interest
Transcribed Image Text:Use the following amortization chart: \table[\table[[elling price], [of home],[$99,000 Use the following amortization chart: Selling price of home $ 99,000 Down payment $ 5,000 Principal (loan) $ 94,000 Rate of interest 5.5% Years 30 Payment per $1,000 $ 5.6779 What is the total cost of interest? Monthly mortgage payment $ 533.72 Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar. Total cost of interest
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