5. Calculating Monthly Mortgage Payments. Based on Exhibit 9-9, what would be the monthly mortgage payments for each of the following situations? (LO 9.4) a. $120.000, 15-year loan at 4.5 percent b. $86,000, 30-year loan at 5 percent c. $105,000, 20-year loan at 6 percent d. What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate affect the monthly payment? = a. ($120,000 / 1,000) = $ b. ($86,000 / 1,000) * c. ($105,000 / 1,000) = $ d. Longer mortgage terms mean a monthly payment is required. monthly payment. As rates increase, a 5. Calculating Monthly Mortgage Payments. Based on Exhibit 9-9, what would be the monthly mortgage payments for each of the following situations? (LO 9.4) a. $120.000, 15-year loan at 4.5 percent b. $86,000, 30-year loan at 5 percent c. $105,000, 20-year loan at 6 percent d. What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate affect the monthly payment? = a. ($120,000 / 1,000) = $ b. ($86,000 / 1,000) * c. ($105,000 / 1,000) = $ d. Longer mortgage terms mean a monthly payment is required. monthly payment. As rates increase, a