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Problems 5 - 12 relate to the following information: You are purchasing a house for $95,000. The lender requires a 10% down payment, and will

Problems 5 - 12 relate to the following information: You are purchasing a house for $95,000. The lender requires a 10% down payment, and will finance the rest with a 30 year fixed rate mortgage with monthly payments at 9 7/8% with two discount points charged. PLEASE USE FINACIAL CALCULLATOR AND SHOW THE WORK

5. Interest: How much interest is paid during the third year? [8315.4

6. Interest: How much interest is paid in the first month? [$703.59]

7. Interest: How much interest is paid in the 37th month? [$690.26]

8. Principal: How much principal is paid during the first month? [$38.84]

9. Principal: How much principal is paid during the 37th month? [$52.17]

10. Interest: How much interest is paid in the second year? [$8371.02]

11. Interest: How much interest is paid over the life of the loan if the loan is held to maturity? [$181,777.71]

12. Construct an annualized amortization schedule for the first four years of the loan

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