Fifteen years ago a couple purchased a house for $160,000.00 by paying a 20 % down payment and financing the remaining b

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Fifteen Years Ago A Couple Purchased A House For 160 000 00 By Paying A 20 Down Payment And Financing The Remaining B 1 (348.33 KiB) Viewed 25 times

Fifteen years ago a couple purchased a house for $160,000.00 by paying a 20 % down payment and financing the remaining balance with a 30-year mortgage at 7.82% compounded monthly. (a) Find the monthly payment for this loan. Monthly Payment: [Note: Your answer is a dollar amount and should have a dollar sign and exactly two decimal places.] (b) Find the balance of the loan after 16 years and after 17 years? After 16 years After 17 years Loan Balance: Loan Balance: [Note: Your answer for each loan balance should be a dollar amount and should have a dollar sign and exactly two decimal places.] (c) Find the total amount of interest paid by the couple during the 17th year.