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Based on Exhiblt 9.9, or using a financial calculator, what would be the monthly mortgage payments for following situations? (Round time value factor and f
Based on Exhiblt 9.9, or using a financial calculator, what would be the monthly mortgage payments for following situations? (Round time value factor and f each of the nal answers to 2 declmal places.) Monthly Mortgage Payment a. $132,000, 15-year loan at 5.50 percent b. $126,000, 30-year loan at 8.00 percent. c $88,000, 20-year loan at 8.50 percent. Chap. b90 Saved Help Save &Exit Submit a Manchester plan to buy a condominium. They willobtain a $217000, 20-year mortgage at 5.5 percent. Their annual property taxes are expected to be $1,812. Property Insurance is $840 a year, and the condo association fee is $85 a month. Based on these items, determine the total monthly housing payment for the Manchesters. Use Exhibit 9-9. (Round time value factor to 2 declmal places and final answer to the nearest whole number.) edTotal monthly housing payment MacBook Ai Exhibit 9-9 Mortgage payment factors (principal and interest factors per $1,000 of loan amount) 30Years 20 Years $5.55 5,80 6.06 6.33 6.60 688 716 Term Rate 25 Years $4.74 5.01 5.28 5.56 5.85 6.14 6. 44 667 706 15 Years $6.91 715 740 $4.22 3.0% 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 75 8.0 8.5 4.49 4.77 5.07 5.37 5.68 6.00 6. 6.65 699 734 791 8.17 8 43 8,71 8.98 927 9.56 32 775 772 8 36 8,05 MacBook Ai 13 Rental CostsBuying Costs Annaal rent $8,000 Annual mortgage payments 810, 6009,651 isterest) 206 Property taxes 2,430 Seaurity depoait 1,530 Inauranceaintenance Down payment/closing coats Growth is equsty Eatimated annual appreciation 4,500 949 2,300 Assume an after-tax savings interest rate of 7 percent and a tax rate of 28 percent (a) Calculate the total rental cost and total buying cost. (Round your Intermedliate calculations and final answers to the nearest whole number.) Total Cost Rental cost
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