Table 14-1: Monthly Payments to Amortize Principal and Interest per $1,000 Financed Monthly Payments (Necessary to amortize a loan of $1,000) Interest Rate (%) 5 10 15 20 25 30 35 40 Years Years Years Years Years Years Years Years 3.50 18.19 9.89 7.15 5.80 5.01 4.49 4.13 3.87 3.75 18.30 10.01 7.27 5.93 5.14 4.63 4.28 4.03 4.00 18.42 10.12 7.40 6.06 5.28 4.77 4.43 4.18 4.25 18.53 10.24 7.52 6.19 5.42 4.92 4.58 4.34 4.50 18.64 10.36 7.65 6.33 5.56 5.07 4.73 4.50 4.75 18.76 10.48 7.78 6.46 5.70 5.22 4.89 4.66 5.00 18.87 10.61 7.91 6.60 5.85 5.37 5.05 4.82 5.25 18.99 10.73 8.04 6.74 5.99 5.52 5.21 4.99 5.50 19.10 10.85 8.17 6.88 6.14 5.68 5.37 5.16 5.75 19.22 10.98 8.30 7.02 6.29 5.84 5.54 5.33 6.00 19.33 11.10 8.44 7.16 6.44 6.00 5.70 5.50 6.25 19.45 11.23 8.57 7.31 6.60 6.16 5.87 5.68 6.50 19.57 11.35 8.71 7.46 6.75 6.32 6.04 5.85 6.75 19.68 11.48 8.85 7.6 6.91 6.49 6.21 6.03 7.00 19.80 11.61 8.99 7.75 7.07 6.65 6.39 6.21 7.25 19.92 11.74 9.13 7.90 7.23 6.52 6.56 6.40 7.50 20.04 11.87 9.27 8.06 7.39 6.99 6.74 6.58 7.75 20.16 12.00 9.41 8.21 7.55 7.16 6.92 6.77 8.00 20.28 12.13 9.56 8.36 7.72 7.34 7.10 6.95 8.25 20.40 12.27 9.70 8.52 7.85 7.51 7.28 7.14 8.50 20.52 12.40 9.85 8.65 6.05 7.69 7.47 7.33 8.75 20.64 12.53 9.99 8.54 8.22 7.87 7.65 7.52 9.00 20.76 12.67 10.14 9.00 8.39 5.05 7.84 7.71 9.25 20.86 12.50 10.29 9.16 8.56 5.23 6.03 7.91 9.50 21.00 12.94 10.44 9.32 5.74 5:41 8.221 8.10 9.75 21.12 13.06 10.59 9.49 6.91 8.59 8.4% 8.30 10.00 21.25 13.22 10.75 9.65 9.09 8.75 8.60 8.49 10.25 21.37 13.35 10.90 9.82 9.26 8.96 8.79 8.69 10.50 21.49 13.49 11.05 9.96 9.44 9.15 6.98 8.89 10.75 21.62 13.63 11.21 10.15 9.62 9.33 9.18 9.00 11.00 21.74 13.76 11.37 10.32 9.80 9.52 9.37 9.25 11.25 21.87 13.92 11.52 10.49 9.95 9.71 9.56 9.48 11.50 21.99 14.06 11.66 10.66 10.16 9.90 9.76 9.65 11.75 22.12 14.20 11.84 10.84 10.35 10.09 9.96 9.88 12.00 22.24 14.35 12.00 11.01 10.53 10.29 10.16 10.08 12.25 22.37 14.49 12.16 11.19 10.72 10.45 10.35 10.29 12.50 22.50 14.64 12.33 11.36 10.9 10.67 10.55 10.49 12.75 22.63 14.75 12.49 11.54 11.09 10.57 10.75 10.69 13.00 22.75 14.93 12.65 11.72 12.25 11.06 10.95 10.90 Using this table as needed, calculate the required information for the mortgage. Amount Interest Financed Rate Term of Loan (years) Number of $1,000s Financed Table Factor (in $) Monthly Payment (in $) $94,500 8.00% 30 Total Interest (in $)