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Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $70,000 loan at 10%

Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $70,000 loan at 10% for 60 months. What is his monthly payment by table lookup?

Loan amortization table (monthly payment per $1,000 to pay principal and interest on installment loan)

Terms in months7.50%8.00%8.50%9.00%10.00%10.50%11.00%11.50%12.00%12.50%13.00%13.50%14.00%14.50%15.00%15.50%16.00%
6$ 170.34$ 170.58$ 170.83$ 171.20$ 171.56$ 171.81$ 172.05$ 172.30$ 172.55$ 172.80$ 173.04$ 173.29$ 173.54$ 173.79$ 174.03$ 174.28$ 174.53
1286.7686.9987.2287.4687.9288.1588.3888.6288.8589.0889.3289.5589.7990.0290.2690.4990.73
1858.9259.1559.3759.6060.0660.2960.5260.7560.9861.2161.4561.6861.9262.1562.3862.6262.86
2445.0045.2345.4645.6946.1446.3846.6146.8447.0747.3147.5447.7848.0148.2548.4948.7248.96
3036.6636.8937.1237.3537.8138.0438.2838.5138.7538.9839.2239.4639.7039.9440.1840.4240.66
3631.1131.3431.5731.8032.2732.5032.7432.9833.2133.4533.6933.9434.1834.4234.6734.9135.16
4227.1527.3827.6227.8528.3228.5528.7929.0329.2829.5229.7630.0130.2530.5030.7531.0031.25
4824.1824.4224.6524.7725.3625.6025.8526.0926.3326.5826.8327.0827.3327.5827.8328.0828.34
5421.8822.1222.3622.5923.0723.3223.5623.8124.0624.3124.5624.8125.0625.3225.5825.8426.10
6020.0420.2820.5220.7621.2521.4921.7421.9922.24

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