Based on Exhibit 7-7 what would be the monthly mortgage payments for each of the following situations? (Round your answers to 2 decimal places.) a. A $164,000, 20-year loan at 5.5 percent. b. A $219,000, 25-year loan at 6 percent c. A $198,000, 30-year loan at 5.5 percent. Term Rate 30 Years 25 Years $4.74 20 Years $5.55 Exhibit 7-7 Mortgage Payment Factors (principal and interest factors per $1,000 of loan amount) 15 Years $6.91 3.0% $4.22 3.5 4.49 5.01 5.80 7.15 4.0 4.77 5.28 6.06 7.40 4.5 5.56 6.33 7.65 5.07 5.37 5.0 5.85 6.60 7.91 5.5 5.68 6.14 6.88 8.17 6.0 6.00 6.44 7.16 8.44 6.5 6.32 6.75 7.46 8.71 7.0 6.65 7.07 7.75 8.99 7.5 6.99 7.39 8.06 9.27 8.0 7.34 7.72 8.36 9.56 In an attempt to have funds for a down payment in six years, James Dupont plans to save $4,400 a year for the next six years. With an interest rate of 5 percent, what amount will James have available for a down payment after the six years? Use Exhibit 1-B. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.) Future value down payment Exhibit 1-B Future Value (Compounded Sum) of 51 Paid in at the end of Each Period for a Given Number of Time Periods (an Annuity) Period 6% 2% + 3% 1 8% 1 11% + 1 1% + 1 2201 3 3.00 1 204 3122 7% + 207 3216 10% + 21 331 1 2.00 3278 206 3184 211 3150 3205 3342 306 4 122 4 4.31 4.575 4573 4.71 5 101 5.30 BEST COTS 571 7150 G 6300 7715 701 6150 7214 7 3001 4.14 5300 SIGN 75 82 10.150 11 464 12.00 14192 GOOD 8542 9540 8 11800 9.30 13.679 54. 164 92 11.02 15.01 15105 8.06 9.750 1005 12169 13412 10 66 7808 9.214 10.6 12 00 13.155 15 026 16 18.00 9.801 11401 13100 14972 1537 102 119 15 16 15784 17 888 16 16720 12671 14201 16.917 17113 10.500 11 8923 10537 12.400 16 15545 18977 21.400 22 27152 18.500 21354 19561 22713 12 13 3800 2011 26 212 22005 26010 14 1401 100 21015 5000 27 075 31772 15 16 OOT 18.500 20094 21 570 23276 25120 15074 17 201 18.639 20012 16 20167 21820 33.00 3919 17 18.45 21 25.84 2521 33.75 36074 10 545 14.01 27 30.54 10000 37379 10 10615 4101 21412 22341 10 25 117 27671 56990 20811 22019 45018 01.16 41 465 45.762 73.106 113.20 20.243 57 275 90547 1640 154413 147 54.368 700 154762 0146 4T 5T 75.00 112.79 STOI 136.00 337 815084 06.450 1208 209 345 40 100001 58186 60.400 84.679 64.455 673.77 1163 900 Period 12% 13% 15% 17% 18% 1996 20% 25% 30% 1 1 1 1 1 1 1 1 1 1 1 1 211 2 212 214 215 215 210 250 22 213 3407 3 3473 3813 3.99 4 4.779 3572 5210 7154 6151 5 GOTT 7014 20 0045 661 856 TO 8754 5 9. 11250 8115 10080 1013 9201 11.772 54.775 12 142 1763 16.073 1954 B 123 8977 11.414 14.20 17 610 21 10.400 12707 15416 18:42 21814 14776 15.25 1500 10307 16. 10006 2015 22619 10 17540 2004 2440 7207 T 9589 995 12.123 12915 15.902 16.490 10.00 20700 24700 25 900 30 404 3215 ST 16 30501 4524 5434 72030 22795 272 11 20600 33 253 42.666 54200 12 24 135 74 SET 34950 2210 13 2005 56 14 32900 3751 40 505 47100 50 818 127 913 15 40 417 43 342 0166 56940 109 68 150.00 167250 16 42.750 10.17 72.950 79 66.640 TOTO 17 63075 71 673 ET OG BT 442 105.00 128 117 205011 18 5675 61 725 5804 75835 84541 1034 115266 1736 218 045 27356 371 518 19 6344 19 75 98105 150 250 138160 154 14 483973 T2000 30 DIT 91 88212 102.444 212.709 630 160 25 342.940 1054791 130394 2010 150055 200105 547 439 542.000 156686 471001 1181882 20 101011 356787 1342025 241339 45 530312 TO 3027174 293 199 1015 04 3460 BOT 966 742 5629 40 2300 767001 2400010 3134522 1779.00 T211.6 4163218 21013004 7343 865 4540T 191 30068600 120982 853 ZOOS OS 10TCO 743 420421 10450 640 1009 31015330
