Chapter 14.I, Problem 3RE

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

TABLE 14-1		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

Term Number

Amount		Interest	of Loan		of $1,000s			Table	Monthly
Financed		Rate	(years)		Financed			Factor	Payment Total Interest
$164,900	4.50%			25