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EAL ESTATE AMORTIZATION TABLE ERMS YEARS 6}% 6% 7% 7}% 7% TERMS IN YEARS 6% 8% 9% 10 11.10 11.23 11.35 11.48 11.62 11.75 11.88 12.01 12.14 12.27 12.40 12.67 10 15 8.44 8.57 8.71 8.85 8.99 9.13 9.28 9.42 9.56 9.71 9.85 10.15 15 20 7.16 7.31 7.46 7.60 7.76 7.91 8.06 8.21 8.37 8.53 8.68 9.00 20 25 6.44 6.60 6.75 6.91 7,07 7.23 7.39 7.56 7.72 7.89 8.06 8.40 25 30 6.00 6.16 6.32 6.49 6.65 6.83 7.00 7.17 7.34 7.52 7.69 8.05 30 $2, 997.42 $1, 587.81 $1, 336.06 $733.08

EAL ESTATE AMORTIZATION TABLE ERMS YEARS 6}% 6% 7% 7}% 7% TERMS IN YEARS 6% 8% 9% 10 11.10 11.23 11.35 11.48 11.62 11.75 11.88 12.01 12.14 12.27 12.40 12.67 10 15 8.44 8.57 8.71 8.85 8.99 9.13 9.28 9.42 9.56 9.71 9.85 10.15 15 20 7.16 7.31 7.46 7.60 7.76 7.91 8.06 8.21 8.37 8.53 8.68 9.00 20 25 6.44 6.60 6.75 6.91 7,07 7.23 7.39 7.56 7.72 7.89 8.06 8.40 25 30 6.00 6.16 6.32 6.49 6.65 6.83 7.00 7.17 7.34 7.52 7.69 8.05 30 $2, 997.42 $1, 587.81 $1, 336.06 $733.08

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 8P
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20. Ron and Sandy have purchased their first house. They borrowed $174, 000 for 30 years at an annual interest rate of 8.5%. Their annual insurance cost is $915 and property taxes are $2, 082 per year. Calculate their total monthly payment. REAL ESTATE AMORTIZATION TABLE TERMS 6% 6% 67% 7% 7% 81% 84% TERMS IN YEARS IN YEARS 6% 7% 8% 9% 10 11.10 11.23 11.35 11.48 11.62 11.75 11.88 12.01 12.14 12.27 12.40 12.67 10 15 8.44 8.57 8.71 8.85 8.99 9.13 9.28 9.42 9.56 9.71 9.85 10.15 15 20 7.16 7.31 7.46 7.60 7.76 7.91 8.06 8.21 8.37 8.53 8.68 9.00 20 25 6.44 6.60 6.75 6.91 7.07 7.23 7.39 7.56 7.72 7.89 8.06 8.40 25 30 6.00 6.16 6.32 6.49 6.65 6.83 7.00 7.17 7.34 7.52 7.69 8.05 30 $2, 997.42 $1, 587.81 $1, 336.06 $733.08
Transcribed Image Text:20. Ron and Sandy have purchased their first house. They borrowed $174, 000 for 30 years at an annual interest rate of 8.5%. Their annual insurance cost is $915 and property taxes are $2, 082 per year. Calculate their total monthly payment. REAL ESTATE AMORTIZATION TABLE TERMS 6% 6% 67% 7% 7% 81% 84% TERMS IN YEARS IN YEARS 6% 7% 8% 9% 10 11.10 11.23 11.35 11.48 11.62 11.75 11.88 12.01 12.14 12.27 12.40 12.67 10 15 8.44 8.57 8.71 8.85 8.99 9.13 9.28 9.42 9.56 9.71 9.85 10.15 15 20 7.16 7.31 7.46 7.60 7.76 7.91 8.06 8.21 8.37 8.53 8.68 9.00 20 25 6.44 6.60 6.75 6.91 7.07 7.23 7.39 7.56 7.72 7.89 8.06 8.40 25 30 6.00 6.16 6.32 6.49 6.65 6.83 7.00 7.17 7.34 7.52 7.69 8.05 30 $2, 997.42 $1, 587.81 $1, 336.06 $733.08
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