Hello,

can you help with the below and show all the work?

16. Calculating Monthly Mortgage Payments: Based on Exhibit 7-7, what would be the monthly mortgage payments for each of the following situations?

a. A $100,000, 15-year loan at 7.5% APR compounded semi-annually b. A $200,000, 25-year loan at 9% APR compounded semi-annually c. A $165,000, 20-year loan at 10% APR compounded semi-annually

What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate affect the monthly payment?

A: a.

A: b.

A: c.

A: Summary Answer:

Thanks,