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

question 4

Short Answer

Using Table 14-1 from your text, calculate the required information for the following mortgage, rounding to the nearest cent. $$\begin{array} { l l l l l l l } & & \text { Term } & \# \text { \#of } & & & \\\text { Amount } & \text { Interest } & \text { of } & \$ 1,000 \mathrm {~s} & \text { Table } & \text { Monthly } & \text { Total } \\\text { Financed } & \text { Rate } & \text { Loan } & \text { Financed } & \text { Factor } & \text { Payment } & \text { Interest } \\\$ 30,000 & 7 \frac { 1 } { 2 } \% & 15 \text { years } & & & &\end{array}$$