 Hello and welcome to the session. In this session, we are going to discuss the following question and the question says that Jenny is planning to buy a home for $243,900. She will make 20% down payment and rest of the amount is financed at 8% annual mortgage loan for 25 years. Find the amount of her monthly mortgage payment using table. We know that amount financed is equal to purchase price minus down payment. Also, number of $1000 units is equal to amount financed upon $1000 and the monthly mortgage payment is equal to number of $1000 units into table factor. With this key idea, let us proceed with the solution. Here we are given Jenny is planning to buy a home for $243,900. She will make 20% down payment and the rest of the amount is financed at 8% annual mortgage loan for 25 years. We have to find the amount of her monthly mortgage payment. So the purchase price is equal to $243,900. Rate of interest is equal to 8% annually. Time period is equal to 25 years. The down payment is equal to 20% of the purchase price. That is equal to 20% upon 100 into $243,900 which will be equal to $48,780. Now to calculate the amount of her monthly mortgage payment, we follow the below steps. Our first step will be to find the amount financed. From the key idea, we know that amount financed is equal to purchase price minus down payment. So here amount financed will be equal to the purchase price that is $243,900 minus the down payment which we calculated as $48,780 which is equal to $195,120. So now our next step is to find the number of $1,000 units in amount financed. From the key idea, we can see that the number of $1,000 units is equal to amount financed upon $1,000. So here the number of $1,000 units is equal to amount financed that is $195,120 upon $1,000 which is equal to $195.12. Our next step is, from the table we will locate the table factor for given rate of interest and number of years financed. So here is the table showing the rate of interest and the number of years. So here according to the question the time period is 25 years. So we first locate 25 years on the table and the rate of interest is 8%. So we locate 8% in the table. Now the value corresponding to rate of interest 8% and time 25 years is the table factor. So we can see that here this value is 7.72. So the table factor is equal to 7.72. Now our last step is to calculate the monthly mortgage payment. So from the key idea, monthly mortgage payment is equal to number of $1,000 units into the table factor. That means here the monthly mortgage payment is equal to number of $1,000 units that is equal to $195.12 into the table factor which is equal to 7.72. This is equal to $1,506.32. So monthly mortgage payment for Jenny's loan is $1,506.32 which is a required answer. This completes our session. Hope you enjoyed the session.