document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=878610>Question 878610</A>: <I><SPAN STYLE=\"word-break: break-all;\"> . You are considering borrowing $150,000 to purchase a new home.<BR>\n" );
document.write( "a. Calculate the monthly payment needed to amortize an 8 percent fixed-rate 30-year mortgage loan.<BR>\n" );
document.write( "b. Calculate the monthly amortization payment if the loan in (a) was for 15 years\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #530130 by </B><A HREF=/tutors/aboutme.mpl?userid=ewatrrr><B>ewatrrr(24785)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ewatrrr><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ewatrrr><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=530130\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Recommend a Calculator<BR>\n" );
document.write( "a) P = $1100.65<BR>\n" );
document.write( "b) P = $1433.48 </SPAN>\n" );
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