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Problem 4-21 A mortgage loan in the amount of $100,000 is made at 6 percent interest for 20 years. Payments are to be monthly in
Problem 4-21 A mortgage loan in the amount of $100,000 is made at 6 percent interest for 20 years. Payments are to be monthly in each part of this problem. Required C c1 Interest if fully amortizing c2 Interest if partial amortizing c3. Interest if interest only C4 Interest if negative amortization Required D Required A Required B What would be the interest portion of the payment scheduled for payment at the end of month 61 for each case (1) through (4) above? Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Required E Required F Problem 4-21 A mortgage loan in the amount of $100,000 is made at 6 percent interest for 20 years. Payments are to be monthly in each part of this problem. Required: a. What will monthly payments be if (1) The loan is fully amortizing? (2) It is partially amortizing and a balloon payment of $50,000 is scheduled at the end of year 20? (3) It is a nonamortizing, or "interest-only" loan? (4) It is a negative amortizing loan and the loan balance will be $150,000 at the end of year 20? b. What will the loan balance be at the end of year 5 under parts a (1) through a (4)? c. What would be the interest portion of the payment scheduled for payment at the end of month 61 for each case (1) through (4) above? dhe the ADD for each? SAL
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