mortgage

Complete the following table, which shows the monthly payments on a $100,000, 30-year mortgage at the interest rates shown. Use this information to answer the following questions. (Round your answers to the nearest cent.) Amount of Interest Monthly Mortgage ($) Rate (%) Payment ($) 100,000 3 421.60 100,000 4 477.42 100,000 5 536.82 100,000 6 599.55 100,000 7 665 30. 100,000 8 733.76 (a) What is the difference in monthly payments between a $100,000, 30-year mortgage secured at 7%/year and one secured at 3%/year? $ 243.70 (b) Use the table to calculate the monthly mortgage payments on a $170,000 mortgage at 6%/year over 30 years. Use the table to calculate the monthly mortgage payments on a $40,000 mortgage at 6%/year over 30 years