41. [-/0.09 Points) DETAILS HARMATHAP12 6.5.040. MY NOTES This problem is a complex financial problem that requires seve

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41 0 09 Points Details Harmathap12 6 5 040 My Notes This Problem Is A Complex Financial Problem That Requires Seve 1 (32.13 KiB) Viewed 266 times

41. [-/0.09 Points) DETAILS HARMATHAP12 6.5.040. MY NOTES This problem is a complex financial problem that requires several skills, perhaps some from previous sections Clark and Lana take a 30-year home mortgage of $128.000 at 7.4%, compounded monthly. They make their regular monthly payments for 5 years, then decide to pay $1500 per month (a) Find their regular monthly payment. (Round your answer to the nearest cent.) $ (b) Find the unpaid balance when they begin paying the 1500. (Round your answer to the nearest cent) $ (c) How many payments of $1500 will it take to pay of the loan? Give the answer correct to two decimal places. monthly payments (4) Use your answer to part (c) to find how much interest they save by paying the loan this way. (Round your answer to the nearest cent.) 5 Need Help? Read it Watch Show My Work (Optional)