2019-02-20 Page 5 of 8 8: Financial Literacy Assignment Mathematics 11 Financial Literacy 8: Send-In Assignmer 13. Use the Monthly Mortgage Payment Calculator to determine the difference between the monthly payments and the total cost of payments made on a $325000 mortgage at a rate of 5.5% for twenty year to the same mortgage taken out over 30 years. INTEREST MONTHLY PAYMENT RATE PER THOUSAND DOLLARS 15 years 20 years 30 years 4.25% $7.53 $6.21 $4.93 4.5% 7.65 6.34 5.08 4.75% 7.78 6.48 5.22 5.0% 7.91 6.60 5.37 5.25% 8.04 6.74 5.53 5.5% 8.18 5.89 5.69 5.75% 8.31 7.03 5.84 6.0% 8.44 7.17 6.00 6.25% 8.58 7.32 6.16 6.5% 8.72 7.46 6.33 6.75% 8.85 7.61 6.49 7.0% 8.99 7.75 6.65 7.25% 9.13 7.90 6.82 7.5% 9.27 8.06 6.99