A borrower bought a house for $200,000; he can obtain an 80% loan with a 30-year fully amortizing, 7% interest rate and monthly payment. Alternatively, he could get a 90% loan at 9% with same term. 3. What is the difference in loan balance assume the borrower will hold the loan for 10 years? 23673.73 4. What is the incremental cost of borrowing the additional fund? Assume the borrower will hold the loan for 10 years. 23.5% 5. What is the incremental cost of borrowing the A borrower bought a house for $200,000; he can obtain an 80% loan with a 20-year fully amortizing, 7% interest rate and monthly payment. Alternatively, he could get a 90% loan at 9% with 30 year term. 15.17%

I have the answers but need it worked out using only a financial calculator. Thank you!