For a $100,000 mortgage for 25 years at a 11.5% rate (monthly payments), find

1) the monthly payment

2) the annual debt service and constant =(annual payments divided by loan amount)

3) the balance outstanding at the end of year 5

40 if 8.685 points are charged, what is the dollar amount actually loaned?

5) if the loan is held for 25 years, what is the yield to the lender? - hint - subtract 8.685% from the $100,000 loan amount and enter as negative PV, then enter the monthly payment amount as pmt, enter 300 as n, and solve for %I (and multiply the answer by 12 to get the annual rate).