Maths
posted by Jen .
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 25year loan of $125,000 if the
annual interest is 9.5%
b. What are the total interest charges over the life of the loan?

This looks like an exercise in Table reading, but the table is hard to read.
The 25yr load entry in the 9.5% interest row is $8.73. That would be the monthly payment. 25 years is 300 months, so the total amount repaid would be $8.73 times that, or $2619.00
Of that amount, $1619.00 would be interest charges over the life of the loan. The rest is the return of the $1000 principal. 
What is the monthly payment on a 25year loan of $125,000 if the
annual interest is 9.5%
So for the 125,000 loan
monthly payment will be 8.73*125000/1000 = 1091.25
What are the total interest charges over the life of the loan?
1091.25*300 = 327375
Total Interest = 32737512500 = 202375
Is this correct 
Can Please someone check as per below I posted this yesterday and Drwls Answered and I post back the solution.
Thanks
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 25year loan of $125,000 if the
annual interest is 9.5%
b. What are the total interest charges over the life of the loan?
For Further Reading
Maths  drwls, Wednesday, March 12, 2008 at 3:00pm
This looks like an exercise in Table reading, but the table is hard to read.
The 25yr load entry in the 9.5% interest row is $8.73. That would be the monthly payment. 25 years is 300 months, so the total amount repaid would be $8.73 times that, or $2619.00
Of that amount, $1619.00 would be interest charges over the life of the loan. The rest is the return of the $1000 principal.
Maths  Jen, Wednesday, March 12, 2008 at 4:59pm
What is the monthly payment on a 25year loan of $125,000 if the
annual interest is 9.5%
So for the 125,000 loan
monthly payment will be 8.73*125000/1000 = 1091.25
What are the total interest charges over the life of the loan?
1091.25*300 = 327375
Total Interest = 32737512500 = 202375
Is this correct
Respond to this Question
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