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Based on a 4% fixed rate 25 year loan for $400,000 what percentage of the first months payment is interest? a. 60.75% b. 63.15% c.

Based on a 4% fixed rate 25 year loan for $400,000 what percentage of the first months payment is interest?

a. 60.75% b. 63.15% c. 100% d. 57.35%
A 15-year mortgage loan for $320,000 has a fixed teaser of 2.75% for 3 years. It then reverts to an adjustable-rate mortgage for the remainder of the term. What is the outstanding principal when the reset occurs in three years time?

a. $266,960.23 b. $320,000.00 c. $266,091.34 d. $244,635.37

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