Question
Order these loans from highest monthly payment to lowest monthly payment. (Enter 1 as your answer to designate loan with highest payment, 2 as loan
Order these loans from highest monthly payment to lowest monthly payment. (Enter 1 as your answer to designate loan with highest payment, 2 as loan with second highest payment, and so on up to 5 to designate loan with lowest payment.) Each of the following loans is for $300,000 and is a fixed rate mortgage with a 3.5% interest rate.
- 1. 2. 3. 4. 5.
Balloon payment of $500,000 is due at maturity
- 1. 2. 3. 4. 5.
Balloon payment of $250,000 is due at maturity
- 1. 2. 3. 4. 5.
The loan is fully repaid at maturity
- 1. 2. 3. 4. 5.
Interest-only payments for the duration of the loan
- 1. 2. 3. 4. 5.
Balloon payment of $100,000 is due at maturity
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