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Calculate the monthly payments for each of the following $82,200 mortgage loans. Assume no prepayments. a. 30 -year fixed at 9.00 percent b. 15 -year
Calculate the monthly payments for each of the following $82,200 mortgage loans. Assume no prepayments. a. 30 -year fixed at 9.00 percent b. 15 -year fixed at 8.00 percent c. 20 -year fixed at 8.50 percent Note: Round intermediate computations to at least five (5) decimal places. Click on the table icon to view the Monthly Installment Loan Payment Factor (MILPF) table: a. The monthly payment, PMT, on the 30 -year loan is $. (Round to the nearest cent.) Data table (Click on the following icon in order to copy its contents into a spreadsheet.)
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