A Table of Monthly Mortgage Payments (Monthly Payments Necessary to Repay a $10,000 Loan) The monthly loan payments on a mortgage vary not only by the amount of the loan but also by the rate of interest and loan maturity LOAN MATURITY Rate of Interest 10 Years 15 Years 20 Years 25 Years 30 Years 5 0 $106 07 $79 08 $66 00 $58 46 $53 68 5 5 108 53 81 71 68 79 61 41 56 79 6 0 111 02 84 39 71 64 64 43 59 96 6 5 113 55 87 11 74 56 67 52 63 21 7 0 116 11 89 88 77 53 70 68 66 53 7 5 118 71 92 71 80 56 73 90 69 93 8 0 121 33 95 57 83 65 77 19 73 38 8 5 123 99 98 48 86 79 80 53 76 90 9 0 126 68 101 43 89 98 83 92 80 47 9 5 129 40 104 43 93 22 87 37 84 09 10 0 132 16 107 47 96 51 90 88 87 76 10 5 134 94 110 54 99 84 94 42 91 48 11 0 137 76 113 66 103 22 98 02 95 24 Note To use (1) Divide amount of the loan by $10,000, (2) find the loan payment amount in the table for the specific interest rate and maturity and (3) multiply the amount from Step 1 by the amount from Step 2 Find the monthly mortgage payments on the following mortgage loans using either your calculator or the table above $75,000 at 11 0 percent for 15 years Do not round intermediate calculations Round the answer to the nearest cent $ $105,000 at 5 5 percent for 20 years Do not round intermediate calculations Round the answer to the nearest cent $ $95,000 at 5 percent for 15 years Do not round intermediate calculations Round the answer to the nearest cent $

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A Table of Monthly Mortgage Payments (Monthly Payments Necessary to Repay a $10,000 Loan) The monthly loan payments on a mortgage vary not only by

A Table of Monthly Mortgage Payments (Monthly Payments Necessary to Repay a $10,000 Loan)

The monthly loan payments on a mortgage vary not only by the amount of the loan but also by the rate of interest and loan maturity.

	LOAN MATURITY
Rate of Interest	10 Years	15 Years	20 Years	25 Years	30 Years
5.0%	$106.07	$79.08	$66.00	$58.46	$53.68
5.5	108.53	81.71	68.79	61.41	56.79
6.0	111.02	84.39	71.64	64.43	59.96
6.5	113.55	87.11	74.56	67.52	63.21
7.0	116.11	89.88	77.53	70.68	66.53
7.5	118.71	92.71	80.56	73.90	69.93
8.0	121.33	95.57	83.65	77.19	73.38
8.5	123.99	98.48	86.79	80.53	76.90
9.0	126.68	101.43	89.98	83.92	80.47
9.5	129.40	104.43	93.22	87.37	84.09
10.0	132.16	107.47	96.51	90.88	87.76
10.5	134.94	110.54	99.84	94.42	91.48
11.0	137.76	113.66	103.22	98.02	95.24

Note: To use: (1) Divide amount of the loan by $10,000, (2) find the loan payment amount in the table for the specific interest rate and maturity and (3) multiply the amount from Step 1 by the amount from Step 2.

Find the monthly mortgage payments on the following mortgage loans using either your calculator or the table above.

$75,000 at 11.0 percent for 15 years. Do not round intermediate calculations. Round the answer to the nearest cent. $ _____
$105,000 at 5.5 percent for 20 years. Do not round intermediate calculations. Round the answer to the nearest cent. $ _____
$95,000 at 5 percent for 15 years. Do not round intermediate calculations. Round the answer to the nearest cent. $ _____