Using this table as needed, calculate the required information for themortgage. (Round dollars to the nearest cent.)MonthlyPayment(in $)TermNumberTableTotalAmountInterestof Loanof $1,000sFinancedFactorInterestFinancedRate(years)(in $)(in $)$162,3007.25%15162.32$$ 1481.5880$ 104385.84 V

Given: PV =1000Monthly rate =APR12=7.25%12=0.00604166667Total months in 15 years (n)=15×12=180

Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Term Number Table Monthly Payment (in $) Total Amount Interest of Loan of $1,000s Factor Interest Financed Rate (years) Financed (in $) (in $) $162,300 7.25% 15 162.3 $ 1481.5880 $ 104385.84 %24

Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Term Number Table Monthly Payment (in $) Total Amount Interest of Loan of $1,000s Factor Interest Financed Rate (years) Financed (in $) (in $) $162,300 7.25% 15 162.3 $ 1481.5880 $ 104385.84 %24

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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