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Hello, I know that these are simple easy questions, but I unfortunately keep making mistakes in them and I can't finally understand them properly.. Will
Hello, I know that these are simple easy questions, but I unfortunately keep making mistakes in them and I can't finally understand them properly.. Will you please show me handwritten calculations, or if you use a Financial Calculator can you mention what you choose for: N, I/Y. PV, FV, PMT. or any other thing just mention it so I don't get lost... Thank you so much!!
Q3. You obtained a partially amortizing CRE loan for 12,000,000 at 4.5% on August 1, 2015. It is amortized on a 25 year schedule, with a balloon payment due after 7 years. There is no prepayment penalty during the 7th year. You have a contract to sell the building and expect to close on March 22, 2022. What will your monthly payments be? What will your balance be on March 1, 2022? What is your daily interest amount during March 2022? (Note: Assume the bankers year of 360 days, which means all months are considered to be 30 day months). What will your loan payoff be on March 22, 2022? Q3. You obtained a partially amortizing CRE loan for 12,000,000 at 4.5% on August 1, 2015. It is amortized on a 25 year schedule, with a balloon payment due after 7 years. There is no prepayment penalty during the 7th year. You have a contract to sell the building and expect to close on March 22, 2022. What will your monthly payments be? What will your balance be on March 1, 2022? What is your daily interest amount during March 2022? (Note: Assume the bankers year of 360 days, which means all months are considered to be 30 day months). What will your loan payoff be on March 22, 2022Step by Step Solution
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