Mortgages You have decided to buy a new home and the bank offers you a 10 year fixed loan at 5.0% on a balance of $275,325. Use the table provided to determine the monthy payments

Monthly Payments per $1000 of Mortgage
Interest Rate% 10 Years 20 Years 30 Years 40 Years
5.0 10.61 6.60 5.37 4.83
5.5 10.86 6.88 5.68 5.16
6.0 11.11 7.17 6.00 5.51
6.5 11.36 7.46 6.33 5.86

a. $2,921.20 c. $1,460.60
b. $137,500 d. $243,43

Please select the best answer from the choices provided