Complete the following amortization chart by using Table 15.1. (Round your answers to the nearest cent.) Selling price of home Principal (loan) Rate of Interest Payment per $1,000 Monthly martgage payment Down payment Years 24 198,000 $ 60,000 6.5 % 35

Use the following amortization chart: Serung price Down Principal of hone payment (loan) $ 99,000 $5,000 $ 94,800 Rate of interest Years 5.55 30 Payment per $1,000 $ 5.68 Monthly mortgage payment $ 533.92 Assume the interest rate rises to 70%. What is the total cost of interest with the new interest rate? (Use Table 15.1) (Do not round Intermediate calculations, Round your final answer to the nearest cent.) Total cost of interest TABLE 15-1 Amortization table (mortgage principal and Interest per $1,000) INTEREST Term In years 5% 31% 7% 71% 8% 81% 10. 9% 11% 10% 10 1267 9.89 802 10.61 0.25 10.86 0.51 11.11 076 8.44 11.88 O C6 12 12.40 11.11 9.85 9.29 13.78 1254 1137 11.30 10.15 15 17 7.15 6.52 9.28 8.69 7.84 7.91 7.29 6.60 6.20 5.85 9.59 9.00 20 5.80 1136 1162 TO 02 10.20 3.72 8.99 8.12 B.40 7.46 776 7.13 7.44 6.76 7.07 6.33 6.66 6.05 6.39 1294 1162 10.45 9.90 9.33 9.05 8.74 7.17 12.14 1083 9.56 8.99 8.37 B07 7.72 7.34 7.11 8.18 7.56 6.88 651 6.15 5.68 5.38 8.06 1322 13 50 1106 1225 10.75 1106 10:22 10.54 9.66 9.99 439 9,73 9.09 9.45 8.78 9.15 860 8.99 8.68 8.30 5.44 5:01 4.50 6.82 6.45 8.72 8.40 10.86 10.33 10.08 9.81 953 9.37 25 30 B 7.75 7.39 7.00 6.75 8.41 5.37 505 6.00 571 7.69 7.47 8,05 7.84 35 3.99 8.22