Selling Price of Home	Down Payment	Rate of Interest	Years
$ 190,000.00	$ 50,000.00	7%	25

Required:

Please use the above information to answer the below questions: (Use Table 15-1)

How many total payments on this mortgage?

What is the principal (loan)?

What is the payment per $1,000?

What is the monthly mortgage payment?

TABLE 15.1

Amortization table (mortgage principal and interest per $1,000)

Term in Years	INTEREST
	3%	5%	5%	6%	6%	7%	7%	8%	8%	9%	9%	10%	10%	11%
10	9.89	10.61	10.86	11.11	11.36	11.62	11.88	12.14	12.40	12.67	12.94	13.22	13.50	13.78
12	8.52	9.25	9.51	9.76	10.02	10.29	10.56	10.83	11.11	11.39	11.67	11.96	12.25	12.54
15	7.15	7.91	8.18	8.44	8.72	8.99	9.28	9.56	9.85	10.15	10.45	10.75	11.06	11.37
17	6.52	7.29	7.56	7.84	8.12	8.40	8.69	8.99	9.29	9.59	9.90	10.22	10.54	10.86
20	5.80	6.60	6.88	7.17	7.46	7.76	8.06	8.37	8.68	9.00	9.33	9.66	9.99	10.33
22	5.44	6.20	6.51	6.82	7.13	7.44	7.75	8.07	8.39	8.72	9.05	9.39	9.73	10.08
25	5.01	5.85	6.15	6.45	6.76	7.07	7.39	7.72	8.06	8.40	8.74	9.09	9.45	9.81
30	4.50	5.37	5.68	6.00	6.33	6.66	7.00	7.34	7.69	8.05	8.41	8.78	9.15	9.53
35	3.99	5.05	5.38	5.71	6.05	6.39	6.75	7.11	7.47	7.84	8.22	8.60	8.99	9.37