Use the table to calculate the monthly mortgage payments on a $160,000 mortgage at 5%/year over 30 years.

 

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Amount of Mortgage ($) 100,000 100,000 100,000 100,000 100,000 100,000 Interest Rate (%) 3 4 5 6 7 8 Monthly Payment ($) 421.60 477.42 536.82 599.55 665.30 733.76 Amount of Mortgage ($) 100,000 100,000 100,000 100,000 100,000 100,000 Interest Rate (%) 3 4 5 6 7 8 Monthly Payment ($) 421.60 477.42 536.82 599.55 665.30 733.76