Friday
April 18, 2014

Homework Help: Maths

Posted by Jen on Wednesday, March 12, 2008 at 2:23pm.

Amortization of a $1000 Loan

Interest Monthly payment
rate
15yr 20yr 25yr 30yr
9.5% $10.45 $9.33 $8.73 $8.41
10.0% $10.75 $9.66 $9.09 $8.78
10.5% $11.06 $9.99 $9.45 $9.15
11.0% $11.37 $10.33 $9.81 $9.53
11.5% $11.69 $10.66 $10.16 $9.90
12.0% $12.01 $11.01 $10.53 $10.29
12.5% $12.33 $11.36 $10.90 $10.67
13.0% $12.66 $11.72 $11.28 $11.06

a. What is the monthly payment on a 25-year loan of $125,000 if the
annual interest is 9.5%
b. What are the total interest charges over the life of the loan?

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