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 $250,000 with 20% down. Calculete his monthly payment for a 22-year mortgage at 7.0%. Calculate total interest. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Monthly payment Total interest 6.50 INTEREST Term In years 3,15% 5% 51% 6% 7% 7% 8% 8% 9% 10% 10,1% 11% 9.89 10.86 11.36 11.62 1.88 12.14 1240 12.67 10 12 11.11 0.76 1378 12.54 9.51 1083 8.52 7.15 T0.61 9.25 7.91 7.29 10.02 8.72 0.56 9.28 10.29 8.99 8.40 13.22 11.06 10.75 8.44 1294 11,67 10.45 9.90 15 17 11.39 10.15 9.59 6.52 7.84 13.50 1225 11.06 10.64 9.99 9.56 8.99 8.37 8,12 11.11 9.85 9.29 868 8.39 8.18 56 6.88 6.51 615 10.22 9.66 11.37 10.86 10.33 20 6.60 7.17 7.46 7.76 9.00 5 80 5.44 9.33 8,69 8,06 7.75 7.39 6.82 8.72 9.39 10.08 22 25 501 6.20 5,85 5.37 505 7 13 6.76 633 9.73 9.45 6.45 6.00 8.07 3.72 7.34 9.09 707 6.66 9.05 3.74 8.41 8:40 805 7.00 8.06 7.69 747 30 35 8.78 4.50 3.99 568 5.38 9.15 8.99 9.81 9.53 9.37 571 605 6:39 6.75 7.11 784 822 8.60
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