giving the following answer the questions:

purchase price: $300,000

L/V loan to value: 85%

Interest rate: 12%

Term: 30 years monthly payments.

1. The loan is equal to?
2. the monthly mortgage constant equal to?
3. the monthly payment is equal to?

fill in the following chart:

Month 1 Month 2

Loan= ------------------- ----------------------

Payment= ------------------- -----------------------

Interest= ------------------- ----------------------

Principle= ------------------- ----------------------

the percentage paid off after 7 years is equal to?

the amount paid off after 7 years is equal to?

the amount still owed after 7 years is equal to?

how much interest would be paid over 30 year period?

giving the following answer the questions:

loan amount: $180,000

interest rate: 7%

biweekly payment (26)

term :20 years

the biweekly payment is equal to?

the amount of interest paid in the second payment is?

the percentage paid off after 5 years is equal to?

the amount paid off after 5 years is equal to?