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ee Levi bought a home in Arlington, Texas, for $141,000. He put down 25% and obtained a mortgage for 30 years at 8.00%. What
ee Levi bought a home in Arlington, Texas, for $141,000. He put down 25% and obtained a mortgage for 30 years at 8.00%. What is the difference in interest cost if he had obtained a mortgage rate of 6.00%? (Use Table 15.1.) (Use 360 days a year. Round your Intermedlate values and final answer to the nearest cent.) Difference TABLE 15-1 Amortization table (mortgoge principal and Interest per $1,000) INTEREST Term in yoars 74% 10% 10 5% 6% 7% 8% 9% 11% 10 9.89 10.61 10,86 11.11 11.36 11.62 11.88 12.14 12.40 12.67 1294 13.22 13.50 1378 12 852 9.25 951 076 10.02 1029 0.56 10.83 1111 11.39 11.67 11.96 12.25 12.54 15 216 701 8,18 8.44 8.72 8.99 0.28 9.56 9.85 10.15 10,45 10.75 1106 11:37 17 6.52 7.29 7.84 8.12 840 8,69 8.99 9.29 9.59 9.00 10.22 10,54 10.86 20 6.60 6.88 737 7 46 7.76 8,06 837 8.68 9.00 9.33 9.6 9.99 10.33 22 5,44 620 6.51 6.82 7.13 7.44 7775 8.07 8.39 8.72 9.05 9.39 9.73 10,08 26 S.01 5.85 6.15 645 6.76 707 7.39 7.72 8,06 8.40 874 9.09 9.45 981 30 4.50 5.37 5.68 6.00 6.33 6.66 7.00 7.34 7.69 8.05 841 878 9.15 9.53 35 3.99 5.06 538 5,71 6.05 6.39 6.75 711 747 784 8.22 8.60 899 9.37
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