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WANEFMAC 7 3 . 3 . 0 7 0 . The following table shows annual rates for various types of loans in 2 0 1

WANEFMAC73.3.070.
The following table shows annual rates for various types of loans in 2015. Assume monthly payments and compounding periods. HINT [See Examples 5 and 7.]
\table[[\table[[Loan],[Type]],\table[[30-Year],[Mortgage]],\table[[15-Year],[Mortgage]],\table[[5-Year],[Car Loan]],\table[[4-Year],[Car Loan]],\table[[Credit],[Cards]]],[\table[[October],[Rate (%)]],3.93,3.14,4.30,4.24,13.10],[\table[[November],[Rate (%)]],4.09,3.31,4.31,4.26,13.10],[\table[[December],[Rate (%)]],4.09,3.34,4.34,4.29,13.10]]
(Do not round the payment amount to the nearest cent. Round the final outstanding principal to the nearest cent.)
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