15 Prebuilt Problems Saved Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells for $60,000. Assuming that she puts 25% down, what will be her monthly payment and the total cost of interest over the cost of the loan for each assumption? (Use the Table 15.11a) and Table 15.00)). (Round Intermediate calculations to 2 decimal places. Round your final answers to the nearest cent.) Monthly payment Total cost of interest a. 25 Years, 11% b. 25 Years, 12% c. 25 Years, 13% d. 25 Years, 14.5% e. What is the savings in interest cost between 11% and 14 5%? (Round intermediate calculations to 2 decimal places, Round your answer to the nearest dollar amount.) ces Interest cost if Harriet uses 30 years instead of 25 for both 11% and 14.5%, what is the difference in interest? (Use 360 days a year. Round Intermediate calculations to 2 decimal places. Round your answer to the nearest dollar amount.) Interest diance TABLE 15-1 Amortization table (mortgage principal and interest por $1.000) INTEREST Torm in years 3,9 5% 5.1% 6% 61% 29 72% 8% 81% 9% 916 10% 10% 11% 10 12 9.89 8.52 11.11 10.61 9.25 10.86 951 11.62 11.36 1002 13:50 13.78 12.14 TO B3 9.56 1294 1157 1.88 056 9.28 8.69 12.40 11.11 9.85 9.76 8.44 7.84 15 17 1225 7.91 729 8.72 8.12 12.67 11.39 10.15 9.59 9.00 9.29 20 10 29 8.99 8.40 7.76 7.44 7.07 7.15 6.52 5.80 5.44 5.01 4.50 3.99 8.18 P.56 6.88 6.51 6.15 5.68 5.38 13:22 11.00 10.75 10.22 9.66 9.39 9.09 6.60 6.20 5.85 22 25 8.99 8.37 8.07 7:17 6,82 10.45 9.90 9.33 9.05 8.74 7:46 7.13 6.76 6.33 6.05 8.06 7.75 7.39 7.00 8.68 8.39 9.06 11 06 1054 9.99 9.73 9.45 9.15 8.99 11.37 10.88 10.33 10.08 9.81 8.72 8.40 7.72 30 6:45 6.00 5.71 5.37 7:34 805 6.66 6.39 9.53 35 505 7.69 7.47 8.41 8.22 6.75 8.78 8.60 7.11 7.84 9.37 TABLE 15-1 concluded INTEREST Term In years 11% 11% 12% 12% 12% 13% 13) 13% 14% 14% 15% 151 152 10 12 1464 13.44 16.14 1501 14.21 19.99 11.85 1135 10.80 1583 1469 13166 16.45 15:34 14.79 1260 1249 12.02 15 17 20 22 25 30 35 1434 1300 12 84 1169 11.19 1067 1014 10.17 991 977 1435 13.14 1201 1152 11.02 10278 1054 10.29 10.16 1233 1185 11.37 11.10 10.91 10:58 10.56 14.94 1375 1266 12.19 1172 115 1128 11.02 1096 14.05 1299 12.53 1208 1187 11.56 1146 136 15 38 1422 12015 127 1226 12.00 51.85 51.66 11.56 1553 1438 1332 1288 1244 1224 1204 11 BS 15.90 1485 338 13.41 12.99 1281 11.54 11:33 11.10 10.87 10.76 10 61 1035 10.10 1323 1280 12.62 12.43 1225 12.17 14.00 13.58 13.17 12.09 12.81 12.65 12.57 12.67 12.45 1237 13.54 13:37 13.20 13:05 12.08 11.75