Question

CNBC.com reported mortgage applications dropped in March 2015due to an increase in the rate on 30-year fixed rate mortgages toan average of 4.01%. Dennis Natali wants to purchase a vacationhome for $370,000 with 20% down. Calculate his monthly payment fora 25-year mortgage at 5.0%. Calculate totalinterest. (Use Table 15.1.) (Do not roundintermediate calculations. Round your finalanswers to the nearest cent.)

Monthly payment	$
Total interest	$