Question: 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

the rate on 30 -year fixed-rate mortgages. Joe Sisneros wants to purchase

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 $265,000 with 20% down. Calculate his monthly payment for a 25-year mortgage at 7.5\%. Calculate total interest. (Use Table 15.1.) Note: Round your intermediate calculations and final answers to the nearest cent

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