1.You have just obtained a 30 year fixed-rate fully amortizing $600,000 loan with an interest rate of 6.00% compounded monthly.What is your loan balance 10 years from now?

2.You are considering purchasing a small hotel in downtown Madison that is on the market for $7,550,000. The estimated Year 1 NOI is $250,000 per year and is expected to grow at 3.0% per year. You plan to sell the property at the end of the third year for $9,450,000. What is the IRR of this investment?

3.You have just obtained a 30 year fixed-rate fully amortizing $700,000 loan with an interest rate of 7.00% compounded monthly. How much principal have you paid after 3 years?

4.(a)Suppose you have a loan for $450,000 fully amortizing over 30 years at 6.25%, compounded monthly. What is the monthly payment on the loan?

(b)What is the outstanding balance at the end of 10 years (i.e. at the end of the 120thmonth)?

(c)At the end of 10 years how much principal has been paid to date?

(d) At the end of 10 years how much interest has been paid to date?