11. You are looking to borrow $383,000 with a fixed rate,fully amortized mortgage.The term of the mortgage is 30 years and the interest rate is set at 5%.What is the monthly payment on the mortgage?

2.

Please see the line from an amortization table from a 30- year, fixed-rate, fully amortized mortgage below. What is the annual interest rate on the loan? Beginning Ending Month Interest Amortization Balance Balance 54 $281,927.36 $1,409.64 $389.01 $281,538.35 Please enter your answer such that 3.25% would be input as 3.25