Format Painter Chpboard Menge & Center - Font Alignment N F41 B D E G H Amount borrowed $1,200.000 APR 2.40% Payment/compounding frequency monthly 12 per year Loan maturity 15 years a. What are your regular payments? Per period rate Total number of regular payments Regular Payment amount b. You can afford only a limited regular payment, and you offer to pay off the remaining balance at the end of the loan in the form of a single balloon payment. What is this balloon payment? Affordable Payment ($550) 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 10 #1 12 13 4 5 6 7 3 Balloon payment c. You are not happy with results in b. (why?) and decide that your regular payment should at least be enough to cover the regular interest. What is the regular payment in this case? How much will you have to pay in the form of balloon payment at the end? What loan amortization did you have in a), in b), and Regular payments just to cover interest Balloon payment You are unhappy with results in b. because Your loan amortization was of the following type: in a in b) in Introduction Problem 1 Problem 2 Problem 3 Qualitative questions Names