Question: CNBC.com reported mortgage applications increased 9.9% due to a decrease in the rate on 30-year fixed rate mortgages to 4.03% Dennis Natali wants to purchase

CNBC.com reported mortgage applications increased 9.9% due to a decrease in the rate on 30-year fixed rate mortgages to 4.03% Dennis Natali wants to purchase a vacation home for $325,000 with 20% down. Calculate his monthly payment for a 30-year mortgage at 6.5%. Calculate total interest. (Do not round intermediate calculations. Round your final answers to the nearest cent.)

Monthly payment

Total interest

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