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A mortgage loan in the amount of $ 1 0 5 , 0 0 0 is made at 6 percent interest for 2 0 years.
A mortgage loan in the amount of $ is made at percent interest for years. Payments are to be monthly in each part of this problem. Required: a What will monthly payments be if The loan is fully amortizing? It is partially amortizing and a balloon payment of $ is scheduled at the end of year It is a nonamortizing, or interestonly loan? It is a negative amortizing loan and the loan balance will be $ at the end of year b What will the loan balance be at the end of year under parts a through a c What would be the interest portion of the payment scheduled for payment at the end of month for each case through above? d Assume that the lender charges points to close the loans in parts a through a What would be the APR for each? e Assuming that points are paid at closing and the year loan is prepaid at the end of year what will be the effective rate of interest for each loan in parts a through a f Assume the loan is fully amortizing except that payments will be interest only for the first three years months If the loan is to fully amortize over the remaining years, what must the monthly payments be from year through year g If this is a negative amortizing loan and the borrower and lender agree that the loan balance of $ will be payable at the end of year : How much total interest will be paid from all payments? How much total principal will be paid? What will be the loan balance at the end of year If the loan is repaid at the end of year what will be the effective rate of interest? If the lender charges points to make this loan, what will the effective rate of interest be if the loan is repaid at the end of year
A mortgage loan in the amount of $ is made at percent interest for years. Payments are to be monthly in each part of this problem.
Required:
a What will monthly payments be if
The loan is fully amortizing?
It is partially amortizing and a balloon payment of $ is scheduled at the end of year
It is a nonamortizing, or interestonly loan?
It is a negative amortizing loan and the loan balance will be $ at the end of year
b What will the loan balance be at the end of year under parts a through a
c What would be the interest portion of the payment scheduled for payment at the end of month for each case through above?
d Assume that the lender charges points to close the loans in parts a through a What would be the APR for each?
e Assuming that points are paid at closing and the year loan is prepaid at the end of year what will be the effective rate of interest for each loan in parts a through a
f Assume the loan is fully amortizing except that payments will be interest only for the first three years months If the loan is to fully amortize over the remaining years, what must the monthly payments be from year through year
g If this is a negative amortizing loan and the borrower and lender agree that the loan balance of $ will be payable at the end of year :
How much total interest will be paid from all payments? How much total principal will be paid?
What will be the loan balance at the end of year
If the loan is repaid at the end of year what will be the effective rate of interest?
If the lender charges points to make this loan, what will the effective rate of interest be if the loan is repaid at the end of year
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