Question: A man buys a house for $ 3 4 0 , 0 0 0 . He pays $ 8 0 , 0 0 0 down

A man buys a house for $340,000. He pays $80,000 down and takes out a mortgage at 6.9% on the balance. Find his monthly payment and the total amount of interest he will pay if the length of the mortgage is
(a)15 years; (b)20 years; (c)25 years.
(d) When will half the 20-year loan be paid off?
(a) For the 15-year mortgage, the man will make monthly payments of $ (Do not round until the final answer. Then round to the nearest cent.)
The total amount of interest the man will pay is $
(Do not round until the final answer. Then round to the nearest cent.)
(b) For the 20-year mortgage, the man will make monthly payments of $
(Do not round until the final answer. Then round to the nearest cent.)
The total amount of interest the man will pay is $
(Do not round until the final answer. Then round to the nearest cent.)
(c) For the 25-year mortgage, the man will make monthly payments of $ (Do not round until the final answer. Then round to the nearest cent.)
Large semitrailer trucks cost $105,000 each. A trucking company buys such a truck and agrees to pay for it by a loan that will be amortized with 10 semiannual payments at 11% compounded semiannually. Complete an amortization schedule for the first four payments of the loan.
Fill out the amortization schedule below.
(Round to the nearest cent as needed. Do not include the $ symbol in your answers.)
\table[[\table[[Payment],[Number]],\table[[Amount of],[Payment]],\table[[Interest for],[Period]],\table[[Portion to],[Principal]],\table[[Principal at],[End of],[Period]]],[,,,,$105,000
A man buys a house for $ 3 4 0 , 0 0 0 . He pays

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