Question: Sened Help Save 8 Exit Submit 1 5 Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells

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Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells for $59,000. Assuming that she puts 20% down, what will be her monthly payment and the total cost of interest over the cost of the loan for each assumption? (Use the Table 15.1)
Note: Do not round Intermediate calculations. Round your answers to the nearest cent.
\table[[,Monthly payment,Total cost of interest],[a.25 Years, 5.25%,,],[b.25 Years, 5.75%,,],[c.25 Years, 6.00%,,],[d.25 Years, 6.25%,,]]
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e. What is the savings in interest cost between 5.25% and 6.25%?
Note: Round your answer to the nearest dollar amount.
Interest cost
f. If Harriet uses 30 years instead of 25 for both 5.25% and 6.25%, what is the difference in interest?
Note: Use 360 days a year. Round your answer to the nearest dollar amount.
Interest difference
Sened Help Save 8 Exit Submit 1 5 Harriet Marcus

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