A 21-year mortgage is amortized by making payments of $3,052.61 at the end of every month. If interest is 8.45% compounded semi-annually, what was the original mortgage balance?

Select one:

a. $351,979.36

b. $342,119.36

c. $363,506.77

d. $362,111.36

e. $322,919.36

What is the monthly payment size of a 25-year mortgage for $100,000 and an interest rate of 6% compounded semi-annually?

Select one:

a. $639.81

b. $1,639.81

c. $630.81

d. $633.81

e. $600.81

A $345,000.00 mortgage is repaid in 19 years by making monthly payments of $2,486.44. If the interest rate does not change, how much interest is paid during the first 5 years of the mortgage?

Select one:

a. $95,032.19

b. $89,203.92

c. $88,934.29

d. $94,376.81

e. $91,024.00

A mortgage of $169,900 was taken out when the 5-year mortgage interest rate was 7.2% compounded semi-annually. 36 months later, the 5-year mortgage interest rate has decreased to 5.5%. What would be the new blend-and-extend mortgage rate if this mortgage is refinanced for a new 5-year term?

Select one:

a. 6.80%

b. 7.20%

c. 6.18%

d. 5.50%

e. 6.34%

A 22-year mortgage is amortized by payments of $1,761.50 made at the end of each month. If interest is 9.65% compounded semi-annually, what is the mortgage principal?

Select one:

a. $195,163.78

b. $159,633.78

c. $195,313.78

d. $195,371.78

e. $159,863.78

How much principal is repaid in the 74th payment interval on a $142,300 mortgage? The mortgage is amortized over 25 years and the payments are monthly. The interest rate is 7.44% compounded semi-annually.

Select one:

a. $260.06

b. $275.16

c. $572.16

d. $574.16

e. $527.16

A mortgage of $198,000.00 is to be amortized by monthly payments over 22.5 years. If the payments are made at the end of each month and interest is 8.75% compounded semi-annually, what is the size of the monthly payments?

Select one:

a. $1,659.78

b. $1,645.78

c. $6,159.78

d. $1,695.78

e. $6,145.78

A $120,000.00 mortgage is amortized over 25 years. If interest on the mortgage is 8.5% compounded semi-annually, calculate the size of monthly payments made at the end of each month.

Select one:

a. $1,908.88

b. $594.22

c. $954.44

d. $747.44

e. $477.22

The Taylors agreed to monthly payments rounded up to the nearest $100 on a mortgage of $136,000.00 amortized over 15 years. Interest for the first five years was 8.5% compounded semi-annually. Determine the mortgage balance at the end of the five-year term. Hint: First, determine the required monthly mortgage payment and then round that payment up to the nearest $100. Second, recalculate N.

Select one:

a. $107,755.64

b. $204,771.52

c. $102,384.77

d. $120,384.77

e. $120,785.36

At what nominal annual rate of interest will a $196,000 variable-rate mortgage be amortized by monthly payments of $1,666.87 over 20 years? Assume interest is compounded semi-annually.

Select one:

a. 8.54%

b. 6.54%

c. 7.54%

d. 5.54%

e. 8.37%

A $160,000.00 mortgage with a 20-year term is repaid by making monthly payments of $1,361.00. What is the rate of interest compounded semi-annually on the mortgage?

Select one:

a. 7.83%

b. 8.37%

c. 16.74%

d. 7.74%

e. 3.87%

How much principal is repaid in the first payment interval on a $100,000 25-year mortgage? The mortgage is amortized over 25 years and the payments are monthly. The interest rate is 6% compounded semi-annually.

Select one:

a. $493.86

b. $639.81

c. $145.94

d. $527.16

e. $400.86

What would be the accelerated biweekly payment on a $150,000 20-year mortgage? The interest rate is 6% compounded semi-annually. Hint: First calculate the monthly payment amount.

Select one:

a. $493.05

b. $534.14

c. $1,068.28

d. $246.53

e. $448.26

A mortgage requires payments of $1,000.00 at the end of every month for 25 years. If interest is 6% compounded semi-annually, calculate the principal of the loan.

Select one:

a. $156,297.23

b. $155,206.86

c. $33,328.64

d. $46,188.41

e. $300,000

A $360,000.00 mortgage is amortized by making monthly payments of $2,564.19. If interest is 7.5% compounded semi-annually, what is the term of the mortgage?

Select one:

a. 325.2434 periods

b. 345.2434 periods

c. 315.2434 periods

d. 305.2434 periods

e. 335.2434 periods