1. A homeowner takes out a fully amortizing loan in the amount of $ 500,000 for a term of 30 years at 12 % annual interest, compounded monthly. what are the monthly payments the borrower must make to lender in order to fully repay the loan?

2. A fully amortizing mortgage is made for $800,000 for 25 years. Total monthly payments will be $ 900 per month. what is the interest rate on the loan?

3.A partially amortizing mortgage is made for $ 100,000 for a term of 10 years. A balance of $ 40,000 will remain and be rapid as lump sum when the term expires. if the interest rate is 7% per year, what must the monthly payments be over the 10 year period of the loan?