14 The Townsends want to refinance the balance of $72,250 on their house using a 30-year mortgage at 8%. What will their monthly payment be? (use the table) d. $682.36 c. $722.50 b. $530.00 a. $530,14 25 Years IS 33 7 1110 13 Table-Not an Answer Choice 15 The Duncan family plans to buy a house selling for $320,000. The bank requires a 20% down payment and the current mortgage rate is 6.0%. Determine the monthly mortgage payment for a 20-year loan with a 20% down payment. (Use the amortization table) a. $2,291.20 b. $1,761.28 c. $1,536 d. $1,832.96 16 IT 11 39 13 4 1 O Table-Not an answer Choice 13 Determine the maximum monthly payment you could afford for a house if your gross monthly income was $2575 and your current monthly payments were $650.00 d. $927.00 c. $500.00 b. $693.00 a. $750.00 B
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