Question: CNBC . com reported mortgage applications increased 9 . 9 % due to a decrease in the rate on 3 0 - year fixed -

CNBC.com reported mortgage applications increased 9.9% due to a decrease in the rate on 30-year fixed-rate mortgages. Joe Sisneros wants to purchase a vacation home for $280,000 with 20% down. Calculate his monthly payment for a 15-year mortgage at 5.5%. Calculate total interest. (Use Table 15.1.)
Vote: Round your intermediate calculations and final
answers to the nearest cent.
Monthly payment
Total interest
CNBC . com reported mortgage applications

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