Using Table 14-1 from Your Text, Calculate the Required Information

question 33

Short Answer

Using Table 14-1 from your text, calculate the required information for the following mortgage, rounding to the nearest cent. $$\begin{array} { l l l l l l l } & & \text { Term } & \# \text { \#of } & & & \\\text { Amount } & \text { Interest } & \text { of } & \$ 1,000 \mathrm {~s} & \text { Table } & \text { Monthly } & \text { Total } \\\text { Financed } & \text { Rate } & \text { Loan } & \text { Financed } & \text { Factor } & \text { Payment } & \text { Interest } \\\$ 86,000 & 9 \frac { 1 } { 4 } \% & 20 \text { years } & & & &\end{array}$$

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Definitions:

Theodore Roosevelt

The 26th President of the United States, known for his progressive policies, leadership of the Rough Riders, and contributions to conservation.

Tulsa, Oklahoma

Known for the Tulsa Race Massacre of 1921, where a white mob attacked residents, homes, and businesses in the predominantly African American neighborhood of Greenwood, leading to significant loss of life and property.

Race War

A conflict between racial or ethnic groups characterized by violence and hostility, often fueled by racism, discrimination, and historical grievances.

Elaine, Arkansas

A location in the United States that was the site of a racial conflict known as the Elaine Massacre in 1919.