Use the real estate amortization table to find the monthly payment for the following loan: Amount of Loan: $168,000 Interest Rate: 5.50% Term: 20 Years Amortization Table: Terms in Years 4% 4.50% 5% 5.50% 6% 7% 7% 7.50% 8% 10 10.12 10.36 10.61 10.85 11.10 11.35 11.62 11.88 12.14 15 7.40 7.65 7.91 8.17 8.44 8.71 8.99 9.28 9.56 20 6.06 6.33 6.60 6.88 7.16 7.46 7.76 8.06 8.37 25 5.28 5.56 5.85 6.14 6.44 6.75 7.07 7.39 7.72 30 4.77 5.07 5.37 5.68 6.00 6.32 6.65 7.00 7.34 Round to the nearest cent. In order for your answer to be graded correctly, do NOT use a $. DO use commas, when needed.
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