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Following the example above, find the monthly payment on each of these loans: Loan #1 $97,500 at 5 percent for 15 years (15 times 12

Following the example above, find the monthly payment

on each of these loans:

Loan #1 $97,500 at 5 percent for 15 years

(15 times 12 = 180 periods)

PMT =

Loan #2 $125,000 at 5.5 percent for 20 years

(20 times 12 = 240 periods)

PMT =

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