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# Use the table to calculate the monthly mortgage payments on a $160,000 mortgage at 5%/year over 30 years. Amount of Mortgage ($) 100,000 100,000 100,000 100,000 100,000 100,000 Interest Rate (%) 3 4 5 6 7 8 Monthly Payment ($)

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

**Transcribed Image Text:**

## 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

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**Related Book For**

## Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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