Chapter 14.I, Problem 1RE

Using Table 14-1 as needed, calculate the required information for the following mortgages.

TABLE 14-11				Monthly Payments				to Amortize Principal and Interest per $1,000 Financed
					Monthly Payments(Necessary to amortize a loan of $1,000)															40Years
		Interest Rate (%)			5Years	10Years			15Years			20Years	25Years			30Years			35Years
	3.50			$18.19	$9.89			$7.15			$5.80	$5.01			$4.49			$4.13		$3.87
	3.75			18.30	10.01			7.27			5.93	5.14			4.63			4.28		4.03
	4.00			18.42	10.12			7.40			6.06	5.28			4.77			4.43		4.18
	4.25			18.53	10.24			7.52			6.19	5.42			4.92			4.58		4.34
	4.50			18.64	10.36			7.65			6.33	5.56			5.07			4.73		4.50
	4.75			18.76	10.48			7.78			6.46	5.70			5.22			4.89		4.66
	5.00			18.88	10.61			7.91			6.60	5.85			5.37			5.05		4.83
	5.25			18.99	10.73			8.04			6.74	6.00			5.53			5.21		4.99
	5.50			19.11	10.86			8.18			6.88	6.15			5.68			5.38		5.16
	5.75			19.22	10.98			8.31			7.03	6.30			5.84			5.54		5.33
	6.00			19.34	11.11			8.44			7.17	6.45			6.00			5.71		5.51
	6.25			19.45	11.23			8.58			7.31	6.60			6.16			5.88		5.68
	6.50			19.57	11.36			8.72			7.46	6.76			6.33			6.05		5.86
	6.75			19.69	11.49			8.85			7.61	6.91			6.49			6.22		6.04
	7.00			19.81	11.62			8.99			7.76	7.07			6.66			6.39		6.22
	7.25			19.92	11.75			9.13			7.91	7.23			6.83			6.57		6.40
	7.50			20.04	11.88			9.28			8.06	7.39			7.00			6.75		6.59
	7.75			20.16	12.01			9.42			8.21	7.56			7.17			6.93		6.77
	8.00			20.28	12.14			9.56			8.37	7.72			7.34			7.11		6.96
	8.25			20.40	12.27			9.71			8.53	7.89			7.52			7.29		7.15
	8.50			20.52	12.40			9.85			8.68	8.06			7.69			7.47		7.34
	8.75			20.64	12.54			10.00			8.84	8.23			7.87			7.66		7.53
	9.00			20.76	12.67			10.15			9.00	8.40			8.05			7.84		7.72
	9.25			20.88	12.81			10.30			9.16	8.57			8.23			8.03		7.91
	9.50			21.01	12.94			10.45			9.33	8.74			8.41			8.22		8.11
	9.75			21.13	13.08			10.60			9.49	8.92			8.60			8.41		8.30
	10.00			21.25	13.22			10.75			9.66	9.09			8.78			8.60		8.50
	10.25			21.38	13.36			10.90			9.82	9.27			8.97			8.79		8.69
	10.50			21.50	13.50			11.06			9.99	9.45			9.15			8.99		8.89
	10.75			21.62	13.64			11.21			10.16	9.63			9.34			9.18		9.09
	11.00			21.75	13.78			11.37			10.33	9.81			9.53			9.37		9.29
	11.25			21.87	13.92			11.53			10.50	9.99			9.72			9.57		9.49
	11.50			22.00	14.06			11.69			10.67	10.17			9.91			9.77		9.69
	11.75			22.12	14.21			11.85			10.84	10.35			10.10			9.96		9.89
	12.00			22.25	14.35			12.01			11.02	10.54			10.29			10.16		10.09
	12.25			22.38	14.50			12.17			11.19	10.72			10.48			10.36		10.29
	12.50			22.50	14.64			12.33			11.37	10.91			10.68			10.56		10.49
	12.75			22.63	14.79			12.49			11.54	11.10			10.87			10.76		10.70
	13.00			22.76	14.94			12.66			11.72	11.28			11.07			10.96		10.90
Amount		Interest				Term of Loan			Number of $1,000s				Table			Monthly
Financed		Rate				(years)			Financed				Factor			Payment Total Interest
$80,000			9.00%				20			80				9.00			$720,00		$92,800.00