4) Given the following information, calculate the balloon payment for a partially amortized mortgage: loan amount: $84,000; term to maturity: 7 years; amortization term: 30 years; interest rate: 4.5%; monthly payment: $425.62. A) $9,458 B) $30,620 C) $73,103 D) $84,000 a 5) Suppose a potential home buyer is interested in taking a $500,000 mortgage loan that has a term of 30 years and a fixed mortgage rate of 5.25%. What is the monthly mortgage payment that the homeowner would need to make if this loan is fully amortizing? A) $552.50 B) $2,761.02 C) $17,820.72 D) $33,458.47 6) You have taken out a $350,000, 3/1 ARM. The initial rate of 6.0% (annual) is locked in for three years. Calculate the outstanding balance on the loan after three years. The interest rate after the initial lock period is 6.5%. (Note: the term on this 3/1 ARM is 30 years.) A) $2,098.43 B) $2,183.95 C) $336,294.25 D) $347,901.57