Question: Based on:Exhibit 9 - 9 ; or using a financial calculator, what would be the monthly mortgage payments for each of the following situations? Note:

Based on:Exhibit

9 - 9

; or using a financial calculator, what would be the monthly mortgage payments for each of the following situations?

Note: Round time value factor and final answers to

2

decimal places.

What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate affect the monthly payment?

\

table

[[, \

table

[[

Monthly Mortgage

], [

Payment

]]], [

.

132, 000, 15 -

year loan at

5.00

percent.,Y

], [

.

149, 000, 30 -

year loan at

6.00

percent.,

], [

.

147, 000, 20 -

year loan at

7.00

percent.,

], [

- 1 .

Longer mortgage terms mean a

,

monthly payment.

], [d - 2 .

For increase in mortgage rate,monthly payment is required.

]]

Based on:Exhibit

9 - 9

; or using a financial calculator, what would be the monthly mortgage payments for each of the following situations?

Note: Round time value factor and final answers to

2

decimal places.

What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate affect the monthly payment?

\

table

[[, \

table

[[

Monthly Mortgage

], [

Payment

]]], [

.

132, 000, 15 -

year loan at

5.00

percent.,Y

], [

.

149, 000, 30 -

year loan at

6.00

percent.,

], [

.

147, 000, 20 -

year loan at

7.00

percent.,

], [

- 1 .

Longer mortgage terms mean a

,

monthly payment.

], [d - 2 .

For increase in mortgage rate,monthly payment is required.

]]

Based on:Exhibit

9 - 9

; or using a financial calculator, what would be the monthly mortgage payments for each of the following situations?

Note: Round time value factor and final answers to

2

decimal places.

What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate affect the monthly payment?

\

table

[[, \

table

[[

Monthly Mortgage

], [

Payment

]]], [

.

132, 000, 15 -

year loan at

5.00

percent.

], [

.

149, 000, 30 -

year loan at

6.00

percent.

], [

.

147, 000, 20 -

year loan at

7.00

percent.

], [

- 1 .

Longer mortgage terms mean a

,

monthly payment.

], [

- 2 .

For increase in mortgage rate,monthly payment is required.

]]

Based on:Exhibit 9-9; or using a financial calculator, what would be

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