Given the following answer questions #1-#7 Use 6 decimal places for the mortgage constant

Purchase Price = $300,000 Loan to value ratio = 85%

Interest rate = 3% Term: Monthly payments 30 years

1.The loan is equal to:

2. The monthly mortgage constant is equal to:

3. The monthly payment is equal to:

4. The amount of interest paid in the second month is equal to:

5. The percentage paid off after 7 years.

6. The amount paid off after 7 years.

7. The amount still owed after 7 years.

Use 6 decimal places for the mortgage constant

Given the following answer questions #8-#12

Purchase Price = $200,000 Loan to value ratio = 80%

Interest rate = 6% Term: Monthly payments 15 years

8. The monthly mortgage constant is equal to:

9. The monthly payment is equal to:

10. The amount of principle paid in the second month is equal to:

11. The amount paid off after 4 years.

12. The total amount of interest paid after 15 years