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Math 1300 QUESTION 11 Number of Years for the Loan Annual Interest Rate 4% $29.53 $22.58 $10.12 $6.06 $4.77 5% 29.97 23.03 10.61 6.60 5.37

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Math 1300

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QUESTION 11 Number of Years for the Loan Annual Interest Rate 4% $29.53 $22.58 $10.12 $6.06 $4.77 5% 29.97 23.03 10.61 6.60 5.37 6% 30.42 23.49 11.10 7. 16 6.00 8% 31.34 24.41 12.13 8.36 7.34 10% 32.27 25.36 13.22 9.65 8.78 12% 33.21 26.33 14.35 11.01 10.29 A borrower took out a 20-year mortgage for $95,000 at an annual interest rate of 12%. a. Use the table of monthly payments on $1,000 loan, to find the monthly payment for this mortgage. $ b. Find the total interest paid on the loan. $

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