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1- A fully amortizing mortgage loan is made for $80,000 at 6 percent interest for 25 years. Payments are to be made monthly. Calculate:
1- A fully amortizing mortgage loan is made for $80,000 at 6 percent interest for 25 years. Payments are to be made monthly. Calculate: a. Monthly payments. b. Interest and principal payments during month1. c. Total principal and total interest paid over 25years. d. The outstanding loan balance if the loan is repaid at the end of year10. e. Total monthly interest and principal payments through year10. 2- A fully amortizing mortgage loan is made for $100,000 at 6 percent interest for 30 years. Determine payments for each of the periods below if interest is accured: a. Monthly. c. Annually. d. Weekly. 3- A partially amortizing mortgage is made for $60,000 for a term of 10 years. The borrower and lender agree that a balance of $20,000 will remain and be repaid as a lump sum at that time. a. If the interest rate is 7 percent, what must monthly payments be over the 10-year period? 4- A fully amortizing loan for $90,000 for 10 years is made at 6 percent interest. The lender and borrower agree that payments will be monthly for year 10. Assuming 2 points are charged by the lender, what will be the yield if the loan is repaid at the end of year 10? What must the loan balance be if it is repaid after year 4? What will be the yield to the lender if the loan is repaid at the end of year 4?
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