Question: Part 2: Complete these problems and show work clearly (formulas used and what values you typed into the calculator) for calculations. When asked for, state

Part 2: Complete these problems and show work clearly (formulas used and what values you typed into the calculator) for calculations. When asked

Part 2: Complete these problems and show work clearly (formulas used and what values you typed into the calculator) for calculations. When asked for, state your answers or findings in a complete sentence. 1. In October of 1981, average interest rates were the highest they've ever been in America: 18.63% on 30-year mortgages AND 16.7% on 15-year mortgages a. Using the monthly payment for a mortgage/loan formula (on your formulas sheet), calculate the monthly payment for a loan of $135,000 for 30 years. State your answer in a sentence. 2. If you can afford to pay $475 per month for a mortgage payment, calculate the amount you could have borrowed in October of 1981 for BOTH of the loans. Use the monthly payment for a mortgage/loan formula (on your formulas sheet): a. For a 30-year mortgage. State your findings in a complete sentence

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