1. If a fully amortizing 30-year fixed rate mortgage was originally taken for $400,000 with a rate of 4%,but now has a balance of $207,328.77,how many more monthly payments will it take before it will be paid off?

2. You borrowed $355,000 to purchase a house.The fixed rate mortgage has a term of 15 years and requires monthly payments.The rate on the loan is 7%.The loan features a prepayment penalty set at 2%of the outstanding balance at the time of prepayment.What is the dollar amount of the prepayment penalty if the loan is repaid after 55 payments?

3. You borrowed $316,000 to purchase a house.The fixed rate mortgage has a term of 15 years and requires monthly payments.The rate on the loan is 4%.What is the total amount of interest paid during the first 16 months of payments?

4. 16. You borrowed $107,000 using a 10 year,fixed rate mortgage with monthly payments.The ending balance is $24,000 higher than the original amount borrowed (i.e.this is a negative amortization situation).The rate on the loan is 6%.What is the monthly payment on the mortgage?