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Stephen has just purchased a home for $161,000. A mortgage company has approved his loan application for a 30-year fixed-rate loan at %. Stephen has

Stephen has just purchased a home for $161,000. A mortgage company has approved his loan application for a 30-year fixed-rate loan at %. Stephen has agreed to pay 30% of the purchase price as a down payment. Find the down payment, amount of mortgage, and monthly payment.

Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed.

The down payment is about $ enter your response here. (Round to the nearest cent as needed.)

The mortgage amount is about $ enter your response here. (Round to the nearest cent as needed.)

The monthly mortgage payment is about $ enter your response here. (Round to the nearest cent as needed.)

Years

Annual interest rate

financed

3.00%

3.25%

3.50%

3.75%

4.00%

4.25%

4.50%

4.75%

5.00%

5.25%

5.50%

5.75%

6.00%

6.25%

6.50%

6.75%

10

9.66

9.77

9.89

10.01

10.12

10.24

10.36

10.48

10.61

10.73

10.85

10.98

11.10

11.23

11.35

11.48

12

8.28

8.40

8.51

8.63

8.76

8.88

9.00

9.12

9.25

9.37

9.50

9.63

9.76

9.89

10.02

10.15

15

6.91

7.03

7.15

7.27

7.40

7.52

7.65

7.78

7.91

8.04

8.17

8.30

8.44

8.57

8.71

8.85

17

6.26

6.39

6.51

6.64

6.76

6.89

7.02

7.15

7.29

7.42

7.56

7.69

7.83

7.97

8.11

8.25

20

5.55

5.67

5.80

5.93

6.06

6.19

6.33

6.46

6.60

6.74

6.88

7.02

7.16

7.31

7.46

7.60

22

5.18

5.31

5.44

5.57

5.70

5.84

5.97

6.11

6.25

6.39

6.54

6.68

6.83

6.98

7.13

7.28

25

4.74

4.87

5.01

5.14

5.28

5.42

5.56

5.70

5.85

5.99

6.14

6.29

6.44

6.60

6.75

6.91

30

4.22

4.35

4.49

4.63

4.77

4.92

5.07

5.22

5.37

5.52

5.68

5.84

6.00

6.16

6.32

6.49

35

3.85

3.99

4.13

4.28

4.43

4.58

4.73

4.89

5.05

5.21

5.37

5.54

5.70

5.87

6.04

6.21

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