Shantel and Kwamie are planning to buy their first home. They visited a few new developments and scanned the real estate listing of preowned homes, but they have no idea how much a mortgage payment would be on a $155,000, $180,000, or $200,000 loan. They have come to you for advice. Complete parts 1.-4. Click the icon to view the monthly payment per $1,000 of amount financed table. 1. After you explain to them that they can borrow money at different rates and at different amounts of time, Shantel and Kwamie ask you to complete a chart indicating what the monthly mortgage payment would be under some possible interest rates and borrowing periods. They also want to know what their total interest would be on each if they choose a 30-year loan at 4.50% interest. Complete the chart. Amount borrowed Total interest paid on 30-year loan 3.00% 15 year $ 1071.05 3.50% 20 year $ 899.00 4.00% 25 year $ 818.40 4.50% 30 year $ 785.85 $155,000 $180,000 $ 1243.80 $ 1044.00 $ 950.40 $ 912.60 $ 127906.00 $ 148536.00 $ 165040.00 $200,000 $ 1382.00 $ 1160.00 $ 1056.00 $ 1014.00 2. If Shantel and Kwamie made a down payment of $25,000 on a $180,000 home, what would be their monthly payment assuming they finance for 30 years at 4.50%? $ 785.85 (Type an integer or a decimal.) How much would they save on each monthly payment by making the down payment? $ 126.75 (Type an integer or a decimal.) How much interest would they save over the life of the loan? $ 20630 (Type an integer or a decimal.) 3. Using your answer from question 2 with the down payment of $25,000 on a $180,000 loan financed for 30 years at 4.50%, find the total PITI payment for Shantel and Kwamie's home if their annual taxes are $3888 and their annual homeowner's insurance premium is $1140. $ (Round to the nearest cent as needed.) Annual interest rate Years financed 12 17 20 22 25 30 35 3.00% 3.25% 3.50% 3.75% 9.66 9.77 9.89 10.01 8.28 8.40 8.51 8 .63 6.917.037.157.27 6.26 6.39 6.516.64 5.55 5.67 5.80 5.93 5.18 5.31 5.44 5.57 4.74 4.87 5.01 5.14 4.22 4.35 4.49 4.63 3.85 3.994.13 4.28 4.00% 4.25% 10.12 10.24 8.76 8.88 7.40 7.52 6.76 6.89 6.06 6.19 5.705.84 5.28 5.42 4.774.92 4.434.58 4.50% 10.36 9.00 7.65 7.02 6.33 5.97 5.56 5.07 4.73 4.75% 5.00% 5.25% 5.50% 5.75% 6.00% 6.25% 6.50% 6.75% 10.48 10.61 10.73 10.85 10.98 11.10 11.23 11.35 11.48 9.12 9.25 9.37 9.50 9.63 9.76 9.89 10.02 10.15 7.78 7.978.04 8.17 8.30 8.44 8.57 8.71 7.157.297.42 7.56 7.69 7.837.978.11 8.25 6.46 6.60 6.74 6.88 7.02 7.16 7.31 7.46 7.60 6.11 6.25 6.396.54 6.68 6.836.98 7.137.28 5.70 5.85 5.99 6.14 6.296.44 6.60 6.756.91 5.22 5.375.525.68 5.84 6.00 6.16 6.326.49 4.89 5.05 5.21 5.375.54 5.70 5.87 6.04 6.21 Shantel and Kwamie are planning to buy their first home. They visited a few new developments and scanned the real estate listing of preowned homes, but they have no idea how much a mortgage payment would be on a $155,000, $180,000, or $200,000 loan. They have come to you for advice. Complete parts 1.-4. Click the icon to view the monthly payment per $1,000 of amount financed table. 1. After you explain to them that they can borrow money at different rates and at different amounts of time, Shantel and Kwamie ask you to complete a chart indicating what the monthly mortgage payment would be under some possible interest rates and borrowing periods. They also want to know what their total interest would be on each if they choose a 30-year loan at 4.50% interest. Complete the chart. Amount borrowed Total interest paid on 30-year loan 3.00% 15 year $ 1071.05 3.50% 20 year $ 899.00 4.00% 25 year $ 818.40 4.50% 30 year $ 785.85 $155,000 $180,000 $ 1243.80 $ 1044.00 $ 950.40 $ 912.60 $ 127906.00 $ 148536.00 $ 165040.00 $200,000 $ 1382.00 $ 1160.00 $ 1056.00 $ 1014.00 2. If Shantel and Kwamie made a down payment of $25,000 on a $180,000 home, what would be their monthly payment assuming they finance for 30 years at 4.50%? $ 785.85 (Type an integer or a decimal.) How much would they save on each monthly payment by making the down payment? $ 126.75 (Type an integer or a decimal.) How much interest would they save over the life of the loan? $ 20630 (Type an integer or a decimal.) 3. Using your answer from question 2 with the down payment of $25,000 on a $180,000 loan financed for 30 years at 4.50%, find the total PITI payment for Shantel and Kwamie's home if their annual taxes are $3888 and their annual homeowner's insurance premium is $1140. $ (Round to the nearest cent as needed.) Annual interest rate Years financed 12 17 20 22 25 30 35 3.00% 3.25% 3.50% 3.75% 9.66 9.77 9.89 10.01 8.28 8.40 8.51 8 .63 6.917.037.157.27 6.26 6.39 6.516.64 5.55 5.67 5.80 5.93 5.18 5.31 5.44 5.57 4.74 4.87 5.01 5.14 4.22 4.35 4.49 4.63 3.85 3.994.13 4.28 4.00% 4.25% 10.12 10.24 8.76 8.88 7.40 7.52 6.76 6.89 6.06 6.19 5.705.84 5.28 5.42 4.774.92 4.434.58 4.50% 10.36 9.00 7.65 7.02 6.33 5.97 5.56 5.07 4.73 4.75% 5.00% 5.25% 5.50% 5.75% 6.00% 6.25% 6.50% 6.75% 10.48 10.61 10.73 10.85 10.98 11.10 11.23 11.35 11.48 9.12 9.25 9.37 9.50 9.63 9.76 9.89 10.02 10.15 7.78 7.978.04 8.17 8.30 8.44 8.57 8.71 7.157.297.42 7.56 7.69 7.837.978.11 8.25 6.46 6.60 6.74 6.88 7.02 7.16 7.31 7.46 7.60 6.11 6.25 6.396.54 6.68 6.836.98 7.137.28 5.70 5.85 5.99 6.14 6.296.44 6.60 6.756.91 5.22 5.375.525.68 5.84 6.00 6.16 6.326.49 4.89 5.05 5.21 5.375.54 5.70 5.87 6.04 6.21