14-18 plz

14. You borrow $100,000 from a bank for 30 years at an APR of 10.5%. What is the monthly payment? If you must pay two points up front, meaning that you only get $98,000 from the bank, what is the true APR on the mortgage loan? 15. Suppost that the mortgage loan described in question 14 is a one-year adjustable rate mortgage (ARM), which means that the 10.5% interest applies for only the first year. If the interest rate goes up to 12% in the second year, what will you new monthly payment be? 16. An investor is looking at a $150,000 house. If 20% must be pay down and the balance is financed at 12% over the next 30 years. What is the annually mortgage payment? 17. An investor is looking at a $150,000 house. If 20% must be pay down and the balance is financed at APR 12% over the next 30 years. What is the monthly mortgage payment? 18. You have just received a gift of $500 from your grandmother and you are thinking about saving this money for graduation which is 4 years away. You have your choice between Bank A which is paying 7% for one-year deposits (compound interest annually) and Bank B which is paying 6% per year (compound every three months). What is the future value of your savings one year from today, 4 years from today if you save your money in Bank A? Bank B? Which is the better decision? intract the money to cam 12% ner vear. If minnan IT