Homework 1 - Chapter 3, 4, 6, 7 & 9 i Saved Help Save & Exit Submit Check my work 16 Based on Exhibit 9-9, or using a financial calculator, what would be the monthly mortgage payments for each of the following situations? (Round time value factor and final answers to 2 decimal places.) points Monthly Mortgage Payment eBook a. $59,000, 15-year loan at 6.50 percent. b. $155,000, 30-year loan at 8.50 percent. c. $128,000, 20-year loan at 8.00 percent Hint Print References Exhibit 9-9 Mortgage payment factors (principal and interest factors per $1,000 of loan amount) Term Rate 30 Years 25 Years 20 Years 15 Years 3.0% $4.22 $5.55 $6.91 $4.74 5.01 3.5 4.49 5.80 7.15 4.0 4.77 5.28 6.06 7.40 4.5 5.07 5.56 6.33 7.65 5.0 5.37 5.85 6.60 7.91 5.5 5.68 - 6.14 6.88 8.17 6.0 6.44 8.43 6.67 8.71 6.00 6.32 6.65 6.99 7.16 7.45 7.75 8.06 7.06 8.98 9.27 7.39 7.72 8.0 7.34 8.36 9.56 8.5 7.69 8.05 8.68 9.85