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23. A mortgage of $125,000 for 20 years has payments of $1,124.66 per month. What is the interest rate? 24. The monthly mortgage payment on
23. A mortgage of $125,000 for 20 years has payments of $1,124.66 per month. What is the interest rate? 24. The monthly mortgage payment on your home is $1,748.04. The interest rate on the mortgage is 7 % % and the mortgage term is 30 years. a. What was the original amount of the mortgage? b. How much interest will you pay over the life of the mortgage if you hold it to maturity? 25. A mortgage of $125,000 at an interest rate of 9 % has payments of $1,124.66 per month. What is the term of the loan? 26. You have received a loan of $150,000 for 27 years with level monthly payments at 8 %% interest. What is the monthly payment
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