Question
CAN YOU PLEASE EXPLAIN AND SHOW HOW TO SOLVE USING THE FINANCIAL CALCULATOR 1.ARM.Payment Restricted (up or down no more than 7.5% at each adjustment
CAN YOU PLEASE EXPLAIN AND SHOW HOW TO SOLVE USING THE FINANCIAL CALCULATOR
1.ARM.Payment Restricted (up or down no more than 7.5% at each adjustment period). The current payment is $1000 month. Using the next index the payment required to fully amortize the loan over the remaining period was $935. The loan payment, for the next period will be?
A:935
2.Unrestricted ARM. At the change date, the Index is 5.33 and the margin is 2.25. What is the interest rate are you charged during the next period?
A: 7.625
6.FRM. (Term=30 years, Note Rate = 4.5%, Loan Amount = 800,000, Points=3) What are the net loan proceeds?
A: 776,000
7.FRM. (Term=30 years, Note Rate = 4.5%, Loan Amount = 800,000, Points=2) What is the monthly loan payment?
A: 4,053.48
8.Bullet Loan. (Term=5 years, Note Rate = 4.25%, Loan Amount = 8,000,000, Points=2) How much interest is due to the 22nd payment?
28,333.33
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