Question: you need to use the chart provided Based on Exhibit7 what would be the monthly mortgage payments for each of the following situations? (Round your

you need to use the chart provided

Based on Exhibit7 what would be the monthly mortgage payments for each of the following situations? (Round your answers to 2 decimal places.)" a. A $164.500, 20-year loan at 6 percent b. A $219,500, 25-year loan at 6.5 percent c. A $199.000, 30-year loan at 6.5 percent. Term Rate 30 Years 25 Years 20 Years 15 Years Exhibit 7-7 Mortgage Payment Factors (principal and interest factors per $1.000 of loan amount) 3,0% $4.22 $4.74 $5.55 $6.91 3.5 4.49 5.01 5.80 7.15 40 4.77 5.28 6.06 7.40 4.5 5.07 5.56 6.33 7.65 5.0 5,37 5.85 7.91 6.60 6.88 55 5.68 6.14 8.17 60 6.00 6.44 7.16 8.44 6.5 6.32 6.75 7.46 8.71 7.0 6.65 7.07 7.75 8.99 7.5 6.99 7.39 8.06 9.27 8.0 7.34 7.72 8.36 9.56

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