Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Amount Financed Interest Rate Term of Loan (years) Number of $1,000s Financed Table Factor (in $) Monthly Payment (in $) Total Interest (in $) $162,300 7.25% 15
Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Amount Financed Interest Rate Term of Loan (years) Number of $1,000s Financed Table Factor (in $) Monthly Payment (in $) Total Interest (in $) $162,300 7.25% 15
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.)
| Amount Financed |
Interest Rate |
Term of Loan (years) |
Number of $1,000s Financed |
Table Factor (in $) |
Monthly Payment (in $) |
Total Interest (in $) |
|---|---|---|---|---|---|---|
| $162,300 | 7.25% | 15 |
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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
Home | Microso...
10
Years
9.89
10.01
10.12
10.24
10.36
10.48
Monthly Payments
(Necessary to amortize a loan of $1,000)
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
C According to m...
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
webassign.net
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
G The buyer of a...
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
W Ch. 14 Quiz: Mo...
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
b Answered: As o...
X W Monthly Payme...
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