IC li = = = !! 2 Question 6: For a 30 year mortgage loan of $500,000 loan with a fixed interest rate of 4% and interest only monthly payments, the monthly payment will be; a): $2,250.00 b): $1,750.00 c): S1,666.67 d): $1,500.00 e): Other Question 7: You estimate that by the time you retire -in 40 years-to purchase an annuity which will be adequate to finance your retirement will cost you close to $2,000,000. If you can invest annually a constant amount of money X, at an interest rate of 4.25%, for the next 40 years, how much should X be in order to accumulate the $2,000,000 needed? a): 815.195.11 ) $17.213.57 ) $18.785.24 d) $19,836.77 e): Other Question 8: A young doctor with gross annual income of $ 280,000 is seeking to buy a house which has annual Real Estate taxes and Insurance expenses of $24,000. If the she has to put down 20% towards the purchase of the house and can get a 30 year fixed rate loan at a rate of 3.50%, what is the maximum offer it should make to the seller? a): $1,326, 897.00 b): 81.721,357 C): 81,878,524 d): 81,983,677 e):Other Fo F2 & 3 4 5 6 7 8 9 0 R