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$5.$ Ch$05$ Financial Planning Exercise $7$

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Chapter $5$

Financial Planning Exercise $7$

Calculating monthly mortgage payments

EXHIBIT $5\mathrm{.}6$ A Table of Monthly Mortgage Payments $($Monthly Payments Necessary to Repay a $$10,000$ Loan$)$

The monthly loan payments on a mortgage vary not only by the amount of the loan but also by the rate of interest and loan maturity.

$\backslash$table$[[$Rate of$,,,,,],[\backslash$table$[[$Interest$]],10$ Years,$15$ Years,$20$ Years,$25$ Years,$30$ Years$],[5\mathrm{.}0\%,$$$106\mathrm{.}07,$$$79\mathrm{.}08,$$$66\mathrm{.}00,$$$58\mathrm{.}46,$$$53\mathrm{.}68$