Find the indicated amounts for the fixed-rate mortgages. Purchase price of home Down Mortgage Interest payment amount rate Monthly payment Mortgage Years payment mortgage Total paid for per $1,000 $160,000 SO 5.00% 30 Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed The mortgage amount is $ (Round to the nearest dollar as needed.) The monthly payment per $1,000 is S The monthly mortgage payment is S The total mortgage payment is S The total interest is $ (Round to the nearest dollar as needed.) GICHEID Interest paid (Round to the nearest cent as needed.) (Round to the nearest cent as needed.) (Round to the nearest dollar as needed.)
Find the indicated amounts for the fixed-rate mortgages. Purchase price of home Down Mortgage Interest payment amount rate Monthly payment Mortgage Years payment mortgage Total paid for per $1,000 $160,000 SO 5.00% 30 Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed The mortgage amount is $ (Round to the nearest dollar as needed.) The monthly payment per $1,000 is S The monthly mortgage payment is S The total mortgage payment is S The total interest is $ (Round to the nearest dollar as needed.) GICHEID Interest paid (Round to the nearest cent as needed.) (Round to the nearest cent as needed.) (Round to the nearest dollar as needed.)
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter5: Making Automobile And Housing Decisions
Section: Chapter Questions
Problem 7FPE
Related questions
Question
Transcribed Image Text:Years
Annual interest rate
financed 3.00% 3.25% 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%
11.10
11.23
11.35
9.66
10.02
10.98
10.85
10.73
10.61
10.48
10.24 10.36
10.01 10.12
9.89
9.76
9.63
9.37 9.50
9.25
9.12
9.00
8.88
8.76
8.51 8.63
8.30 8.44
8.04 8.17
7.91
7.78
7.65
7.52
7.27
7.83
7.69
7.56
7.42
7.29
7.15
6.89 7.02
7.16 7.31
7.02
6.74 6.88
6.60
6.46
6.33
8.71
7.15
7.40
6.64 6.76
7.97
6.51
5.80 5.93
6.06 6.19
5.44
6.83
5.57
6.68
5.84
5.70
6.98
6.25
6.11
6.39
5.97
6.54
6.14
5.68
BOLEHANH3
10
12
15
17
20
22
25
30
35
8.28
6.91
6.26
5.55
5.18
9.77
8.40
7.03
6.39
5.67
5.31
4.74 4.87
4.22 4.35
735
~^^
5.01
4.49
in
5.14
4.63
37
5.28
4.77
in
5.42
4.92
5.56
5.07
5.70
5.22
00
5.85
5.37
5.99
5.52
6.29
5.84
6.44
6.00
9.89
8.57
6.60
6.16
37
8.11
7.46
7.13
6.75
6.32-
CAI
Transcribed Image Text:Find the indicated amounts for the fixed-rate mortgages.
Purchase
price of
home
$160,000
SO
5.00%
30
Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed.
Down Mortgage Interest
payment amount
rate
Years
Monthly
payment Mortgage paid for
Total
payment
mortgage
per
$1,000
ICHHI
The mortgage amount is S (Round to the nearest dollar as needed.)
The monthly payment per $1,000 is S. (Round to the nearest cent as needed.)
The monthly mortgage payment is S
The total mortgage payment is S
The total interest is $
(Round to the nearest cent as needed.)
(Round to the nearest dollar as needed.)
(Round to the nearest dollar as needed.)
Interest
paid
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