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Felix is purchasing a brownstone townhouse for $2,300,000. To obtain the mortgage, Felix is required to make a 19% down payment. Felix obtains a 25-year mortgage with an interest rate of 5.5% Click the icon to view the table of monthly payments a) Determine the amount of the required down payment b) Determine the amount of the mortgage Monthly Principal and Interest Payment per $1000 of Mortgage~ c) Determine the monthly payment for principal and interest Number of Years Rate % 10 15 20 25 30 a) Determine the amount of the required down payment. 30 $9.65607 $6.90582 $5.54598 $4.74211 $4 21604 3.5 9 88859 7.14883 5.79960 5 00624 4 49045 $ 40 10. 12451 7 39688 6.05980 5.27837 4 77415 b) Determine the amount of the mortgage. 4.5 10 36384 7 64993 6.32649 5.55832 5.06685 5.0 10 60655 7 90794 6.59956 5.84590 5 36822 $ 5.5 10.85263 8 17083 6.87887 6 14087 5 67789 6.0 11 10205 8.43857 c) Determine the monthly payment for principal and interest. 7 .16431 6 44301 5.99551 6.5 11 35480 8.71107 7.45573 6.75207 6.32068 $ (Round to the nearest cent.) 7.0 11 61085 8.98828 7 75299 7 06779 6.65302 75 11 87018 9.27012 8.05593 7 38991 6.99215 8.0 12. 13276 9.55652 8 36440 7 71816 7.33765 8.5 12.39857 9.84740 8.67823 8 05227 7 68913 9.0 12.66758 10 14267 8.99726 8 39196 8.04623 9.5 12.93976 10.44225 9.32131 8.73697 8 40854 10.0 13.21507 10 74605 9.65022 9.08701 8.77572 10.5 13.49350 11.05399 9.98380 9.44182 9.14739 11.0 13.77500 11.36597 10.32188 9.80113 9.52323Determine the monthly payment for the installment loan. Annual Number of Amount Percentage Payments per Time in Financed (P) Rate (r) Year (n) Years (t) $900 6% 12 Click the icon to view the partial APR table. - X Finance Rates The monthly payment is $ Annual Percentage Rate Table for Monthly Payment Plans (Round to the nearest cent as needed.) Annual Percentage Rate Number of 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% payments (Finance charge per $100 of amount financed) 6 1.17 1.32 1 46 1.61 1.76 1.90 2.05 2 20 2.35 2.49 2.64 2.79 2.93 12 2. 18 2.45 2.73 3.00 3.28 3.56 3.83 4.11 4.39 4 66 4.94 5.22 5.50 18 3.20 3.60 4.00 4 41 4.82 5.22 5.63 6.04 6.45 6.86 7.28 7.69 8.10 24 4.22 4.75 5.29 5.83 6.37 6.91 7 45 8.00 8.54 9.09 9.64 10.19 10.75 30 5.25 5.92 6.59 7.26 7.94 8.61 9.30 9.98 10.66 11.35 12.04 12.74 13.43 36 6.29 7.09 7.90 8.71 9.52 10.34 11 16 11.98 12.81 13.64 14.48 15.32 16.16 48 8.38 9.46 10.54 11 63 12.73 13.83 14.94 16.06 17 18 18.31 19.45 20.59 21.74 60 10.50 11.86 13.23 14 61 16.00 17 40 18 81 20.23 21.66 23.10 24.55 26.01 27.48 Print DoneThe population of a country has been decreasing for several decades. In 1990, the population was about 136 million people. In 2010, the population was about 131 million people. Determine the percent decrease in the country's population during this time period. The country's population decreased by about |% during this time period. (Round to one decimal place as needed.)Determine the simple interest. The rate is an annual rate. Assume 360 days in a year. p = $420, r = 7.75%, t = 2.25 years The simple interest is $ (Round to the nearest cent as needed.)Write the decimal 7.24 as a percent 7.24 = %Use the ordinary annuity formula After 20 years, you will have approximately $ nt (Round to the nearest cent as needed.) + - 1 A = to determine the accumulated amount in the annuity Periodic $6000 at the end of Deposit each year Rate 3.5% compounded annually Time 20 yearsA partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written. ) Assume the year is not a leap year Effective Partial Payment Maturity X Principal Rate Date Amount Date Date $3500 4.5% Feb. 1 $2000 May 1 Aug. 31 More Info Click the icon to view a table of the number of the day of the year for each date. Days in Each Month Day or 31 28 31 30 31 30 31 31 30 31 30 31 Month Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. The balance due on the note at the date of maturity is $ Day 1 32 60 91 121 152 182 213 244 274 305 335 (Round to the nearest cent as needed.) Day 2 33 61 92 122 153 183 214 245 275 306 336 Day 3 34 62 93 154 184 215 246 276 307 337 Day 4 35 63 94 124 155 185 216 247 277 308 338 Day 36 64 95 125 156 186 217 248 278 309 339 Day 37 65 96 126 157 187 218 249 279 310 340 Day 7 38 66 97 127 158 188 219 250 280 311 341 Day 8 39 67 98 128 159 189 220 251 281 312 342 Day 9 40 68 99 129 160 190 252 282 313 343 Day 10 10 41 69 100 130 161 191 222 253 283 314 344 Day 11 11 42 70 101 131 162 192 223 254 284 315 345 Day 12 12 43 71 102 132 163 193 224 255 285 316 346 Day 13 13 44 72 103 133 164 194 225 256 2 286 317 347 Day 14 14 45 73 104 134 165 195 226 2 287 318 348 Day 15 15 74 105 135 166 196 227 258 288 319 349 Day 16 16 47 75 106 136 167 197 228 259 289 320 350 Day 17 17 76 107 137 168 198 229 260 290 321 351 Day 18 18 49 77 108 138 169 199 230 261 291 322 352 Day 19 19 so 78 109 139 170 200 231 262 292 323 353 Day 20 20 51 79 110 140 171 201 232 263 293 3 324 354 Day 21 21 80 111 141 172 202 233 264 294 325 355 Day 22 22 81 112 142 173 203 234 265 326 356 Day 23 23 54 82 113 143 174 204 235 266 296 327 357 Day 24 24 SS 83 114 144 175 205 236 267 297 328 358 Day 25 25 56 115 145 176 206 237 268 298 329 359 Day 26 26 57 85 116 146 177 207 238 269 299 330 360 Day 27 27 58 86 147 178 208 239 270 300 331 361 Day 28 28 50 87 118 148 179 209 240 271 301 332 362 Day 29 29 88 119 149 180 210 241 272 302 333 363 Day 30 30 89 120 150 181 211 242 273 303 334 364 Day 31 31 90 151 212 243 304 365 Month Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $60,000 after 14 years invested in an account with 4 4% interest compounded monthly The amount to be invested now, or the present value needed, is $ (Round to the nearest cent as needed.)Use the accompanying sinking fund formula to determine the payment needed to reach the accumulated amount. Monthly payments with 6% interest are compounded monthly for 32 years to accumulate $210,000. A ( :) P = The monthly invested payment is $ (Do not round until the final answer. Then round up to the nearest cent.)Use the compound interest formula to compute the total amount accumulated and the interest earned $8500 for 3 years at 2% compounded daily (use n = 360) The total amount accumulated after 3 years is $ (Round to the nearest cent as needed.) The amount of interest earned is $ (Round to the nearest cent as needed.)