Using this table as needed, calculate the required information for the mortgage. Number of $1,000s Financed Amount Interest Financed Rate $83,500 8.00% Term of Loan (years) 30 $ Table Factor (in $) Monthly Payment (in $) $ Total Interest (in $)
Using this table as needed, calculate the required information for the mortgage. Number of $1,000s Financed Amount Interest Financed Rate $83,500 8.00% Term of Loan (years) 30 $ Table Factor (in $) Monthly Payment (in $) $ Total Interest (in $)
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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Transcribed Image Text:Using this table as needed, calculate the required information for the mortgage.
Term
of Loan
(years)
Number
of $1,000s
Financed
Amount Interest
Financed
Rate
$83,500
8.00%
30
$
Table
Factor
(in $)
$
Monthly
Payment
(in $)
$
Total
Interest
(in $)
Transcribed Image Text:Interest
Rate (%)
3.50
3.75
4.00
4.25
4.50
4.75
5.00
5.25
5.50
5.75
6.00
6.25
6.50
6.75
7.00
7.25
7.50
7.75
8.00
8.25
8.50
8.75
9.00
9.25
9.50
9.75
10.00
10.25
10.50
10.75
11.00
11.25
11.50
11.75
12.00
12.25
12.50
12.75
13.00
5
Years
18.19
18.30
18.42
18.53
18.64
18.76
18.87
18.99
19.10
19.22
19.33
19.45
19.57
19.68
19.80
19.92
20.04
20.16
20.28
20.40
20.52
20.64
20.76
20.88
21.00
21.12
21.25
21.37
21.49
21.62
21.74
21.87
21.99
22.12
22.24
22.37
22.50
22.63
22.75
10
Years
9.89
10.01
10.12
10.24
10.36
10.48
10.61
10.73
10.85
10.98
11.10
11.23
11.35
11.48
11.61
11.74
11.87
12.00
12.13
12.27
12.40
12.53
12.67
12.80
12.94
13.08
13.22
13.35
13.49
13.63
13.78
13.92
14.06
14.20
14.35
14.49
14.64
14.78
14.93
15
Years
7.15
7.27
7.40
7.52
7.65
7.78
7.91
8.04
8.17
8.30
8.44
8.57
8.71
8.85
8.99
9.13
9.27
9.41
9.56
9.70
9.85
9.99
10.14
10.29
10.44
10.59
10.75
10.90
11.05
11.21
11.37
11.52
11.68
11.84
12.00
12.16
12.33
12.49
12.65
20
Years
5.80
5.93
6.06
6.19
6.33
6.46
6.60
6.74
6.88
7.02
7.16
7.31
7.46
7.6
7.75
7.90
8.06
8.21
8.36
8.52
8.68
8.84
9.00
9.16
9.32
9.49
9.65
9.82
9.98
10.15
10.32
10.49
10.66
10.84
11.01
11.19
11.36
11.54
11.72
25
Years
5.01
5.14
5.28
5.42
5.56
5.70
5.85
5.99
6.14
6.29
6.44
6.60
6.75
6.91
7.07
7.23
7.39
7.55
7.72
7.88
8.05
8.22
8.39
8.56
8.74
8.91
9.09
9.26
9.44
9.62
9.80
9.98
10.16
10.35
10.53
10.72
10.9
11.09
11.28
30
Years
4.49
4.63
4.77
4.92
5.07
5.22
5.37
5.52
5.68
5.84
6.00
6.16
6.32
6.49
6.65
6.82
6.99
7.16
7.34
7.51
7.69
7.87
8.05
8.23
8.41
8.59
8.78
8.96
9.15
9.33
9.52
9.71
9.90
10.09
10.29
10.48
10.67
10.87
11.06
35
Years
4.13
4.28
4.43
4.58
4.73
4.89
5.05
5.21
5.37
5.54
5.70
5.87
6.04
6.21
6.39
6.56
6.74
6.92
7.10
7.28
7.47
7.65
7.84
8.03
8.22
8.41
8.60
8.79
8.98
9.18
9.37
9.56
9.76
9.96
10.16
10.35
10.55
10.75
10.95
40
Years
3.87
4.03
4.18
4.34
4.50
4.66
4.82
4.99
5.16
5.33
5.50
5.68
5.85
6.03
6.21
6.40
6.58
6.77
6.95
7.14
7.33
7.52
7.71
7.91
8.10
8.30
8.49
8.69
8.89
9.08
9.28
9.48
9.68
9.88
10.08
10.29
10.49
10.69
10.90
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