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Complete the following table, which shows the monthly payments on a $100,000,30-year mortgage at the interest rate shown. Use this information to answer the following
Complete the following table, which shows the monthly payments on a $100,000,30-year mortgage at the interest rate shown. Use this information to answer the following questions. (Round your answers to the nearest cent.) (a) What is the difference in monthly payments between a $100,000,30-year mortgage secured at 7%/ year and one secured at 3% /year? (b) Use the table to calculate the monthly mortgage payments on a $130,000 mortgage at 4\%/year over 30 years. $ Use the table to calculate the monthly mortgage payments on a $80,000 mortgage at 4%/ year over 30 years. $
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