Heather McIntosh of Watertown, South Dakota, recently purchased a home for $180,000. She put $20,000 down and took out a 25-year loan at 4.0 percent interest. Round your answers to the nearest cent.

1. Use Table 9-4 to determine her monthly payment. Round Estimating Mortgage Loan Payments for Principal and Interest in your intermediate calculations to four decimal places.

2. Use Table 9-4 to determine her monthly payment. Round Estimating Mortgage Loan Payments for Principal and Interest in your intermediate calculations to four decimal places.

3. Interest will be $__

4. Principle will be $__

5. How much will she still owe after that month?

6. How much will she owe after three months? Do not round intermediate calculations. (Hint: Use the logic of Table 9-2.)

Table 9-4 Estimating Mortgage Loan Payments for Principal and Interest (Monthly Payment per $1,000 Borrowed) 25 Interest Rate (%) 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 15 $6.9058 7.1488 7.3969 7.6499 7.9079 8.1708 8.4386 8.7111 8.9883 9.2701 9.5565 Payment Period (Years) 20 $5.5460 $4.7421 5.7996 5.0062 6.0598 5.2783 6.3265 5.5583 6.5996 5.8459 6.8789 6.1409 7.1643 6.4430 7.4557 6.7521 7.7530 7.0678 8.0559 7.3899 8.3644 7.7182 30 $4.2160 4.4904 4.7742 5.0669 5.3682 5.6779 5.9955 6.3207 6.6530 6.9921 7.3376 8.0 Table 9-4 Estimating Mortgage Loan Payments for Principal and Interest (Monthly Payment per $1,000 Borrowed) 25 Interest Rate (%) 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 15 $6.9058 7.1488 7.3969 7.6499 7.9079 8.1708 8.4386 8.7111 8.9883 9.2701 9.5565 Payment Period (Years) 20 $5.5460 $4.7421 5.7996 5.0062 6.0598 5.2783 6.3265 5.5583 6.5996 5.8459 6.8789 6.1409 7.1643 6.4430 7.4557 6.7521 7.7530 7.0678 8.0559 7.3899 8.3644 7.7182 30 $4.2160 4.4904 4.7742 5.0669 5.3682 5.6779 5.9955 6.3207 6.6530 6.9921 7.3376 8.0