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5 . Assume a 3 0 - year mortgage loan for $ 2 5 0 , 0 0 0 for 3 0 years at an

5 .

Assume a

30 -

year mortgage loan for $

250, 000

for

30

years at an annual rate of

6 % .

What would be your fixed annual and monthly payments?QUESTION #

5

LOAN AMOUNT

TERM OF LOAN N YEARS

ANNUAL INTEREST RATE

TERM OF LOAN IN MONTHS

MONTHLY INTEREST RATE

FIXED LOAN PAYMENT

(

ANNUAL

)

FIXED LOAN PAYMENT

(

MONTHLY

)

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