TABLE 15-1 Amortization table (mortgage principal and interest per $1,000) INTEREST Term in years 31% 5% 5.1% 6% 61% 7% 72% 8% 81% 9% 9.1% 10% 101% 11% 10 9.89 10.61 10.86 11.11 11.36 11.62 11.88 12.14 12.40 12.67 12.94 13.22 13.78 13.50 12.25 12 8.52 9.25 9.51 9.76 10.02 10.29 10.56 10.83 11.11 11.39 11.67 11.96 12.54 15 7.15 7.91 8.18 8.44 8.72 8.99 9.28 9.56 9.85 10.15 10.45 10.75 11.06 11.37 17 6.52 7.29 7.84 8.12 8.40 8.69 8.99 9.59 10.22 10.54 10.86 1.56 6.88 9.29 8.68 9.90 9.33 20 6.60 7.17 7.46 7.76 8.37 9.00 9.99 10.33 5.80 5.44 8.06 7.75 9.66 9.39 22 6.20 6.51 6.82 7.13 7.44 8.07 8.39 8.72 9.05 9.73 10.08 25 5.01 5.85 6.15 6.45 6.76 7.07 7.39 7.72 8.06 8.40 8.74 9.09 9.45 9.81 30 5.37 6.00 6.33 7.69 9.15 9.53 4.50 3.99 5.68 5.38 6.66 6.39 7.00 6.75 7.34 7.11 8.05 7.84 8.41 8.22 8.78 8.60 35 5.05 5.71 6.05 7.47 8.99 9.37 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 $295,000 with 20% down. Calculate his monthly payment for a 25-year mortgage at 7.5%. Calculate total interest. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Monthly payment Total interest TABLE 15-1 Amortization table (mortgage principal and interest per $1,000) INTEREST Term in years 31% 5% 5.1% 6% 61% 7% 72% 8% 81% 9% 9.1% 10% 101% 11% 10 9.89 10.61 10.86 11.11 11.36 11.62 11.88 12.14 12.40 12.67 12.94 13.22 13.78 13.50 12.25 12 8.52 9.25 9.51 9.76 10.02 10.29 10.56 10.83 11.11 11.39 11.67 11.96 12.54 15 7.15 7.91 8.18 8.44 8.72 8.99 9.28 9.56 9.85 10.15 10.45 10.75 11.06 11.37 17 6.52 7.29 7.84 8.12 8.40 8.69 8.99 9.59 10.22 10.54 10.86 1.56 6.88 9.29 8.68 9.90 9.33 20 6.60 7.17 7.46 7.76 8.37 9.00 9.99 10.33 5.80 5.44 8.06 7.75 9.66 9.39 22 6.20 6.51 6.82 7.13 7.44 8.07 8.39 8.72 9.05 9.73 10.08 25 5.01 5.85 6.15 6.45 6.76 7.07 7.39 7.72 8.06 8.40 8.74 9.09 9.45 9.81 30 5.37 6.00 6.33 7.69 9.15 9.53 4.50 3.99 5.68 5.38 6.66 6.39 7.00 6.75 7.34 7.11 8.05 7.84 8.41 8.22 8.78 8.60 35 5.05 5.71 6.05 7.47 8.99 9.37 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 $295,000 with 20% down. Calculate his monthly payment for a 25-year mortgage at 7.5%. Calculate total interest. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Monthly payment Total interest