7) Suppose you have taken out a $125,000 fully amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of 6%. After your first mortgage payment, how much of the original loan balance is remaining? A) $1,054.82 B) $120,603.78 C) $124,570.18 D) $124,875.56 8) Let's assume that you have just taken out a mortgage loan for $200,000 with an origination fee of 2 points due up-front. The mortgage term is 30 years and the mortgage rate is fixed at 4%. What is the cost of the origination fee in dollar terms? A) $400.00 B) $954.83 C) $4,000.00 D) $4,954.83 9) Suppose you have taken out a $400,000 fully amortizing fixed-rate mortgage loan that has a term of 15 years and an interest rate of 3.75%. In month 1 the mortgage, how mu of the monthly mortgage payment does the interest portion consist of? A) $9.09 B) $1,250.00 C) $1658.89 D) $2,908.89 10) Assume you have taken out a partially amortizing loan for $1,000,000 that has a term of seven years but amortizes over 20 years. Calculate the balloon payment if the interest rate on this loan is 9%. A) $8,997 B) $559,199 C) $825,679 D) $936,405