You borrow $305,000; the annual loan payments are $46,451.56 for 30 years. What interest rate are you being charged? Round your answer to the nearest whole number.  =    %

You borrow $205,000; the annual loan payments are $29,274.57 for 30 years. What interest rate are you being charged? Round your answer to the nearest whole number. %

Suppose you purchase a home and obtain a 15-year fixed-rate loan of $195,000 at an annual interest rate of 6.0%.   a) What is your monthly payment?       N:  months I %:  P.V: $ PMT: $ F.V: 0 P/Y: 12 C/Y: 12       b) Of the first month's mortgage payment, how much is interest?  HINT:  I=Prt   Interest: I=$       c) Of the first month's mortgage payment, how much is applied to the principal? HINT: PMT - Interest   Amount Applied to Principal: $        d) How much is your outstanding balance after the first month’s payment?  HINT: Principal - Amount Applied to Principal   Outstanding Balance after first payment: $

You borrow $160,000; the annual loan payments are $24,368.03 for 30 years. What interest rate are you being charged? Round your answer to two decimal places.