A mortgage loan in the amount of $100,000 is made at 6 percent interest for 20 years. Payments are to be monthly in each part of this problem.

a. What will monthly payments be if:

(1) The loan is fully amortizing?

(2) It is partially amortizing and a balloon payment of $50,000 is scheduled at the end of year 20?

(3) It is a nonamortizing, or interest only, loan?

(4) It is a negative amortizing loan and the loan balance will be $150,000 at the end of year 20?

b. What will the loan balance be at the end of year 5 under parts a (1) through a (4)?

c. What would be the interest portion of the payment scheduled for payment at the end of month 61 for each case (1) thru (4) above?