Question 1 For a reverse mortgage with 20-year term, loan amount $200,000, Interest rate 7%. There is no origination fee. What is the effective cost of the loan if the senior lives out the entire loan? Answer saved Select one: Points out of 1.00 O a. 6.5% P Flag question O b. 7% O c. 5.4% O d. 4.5% Clear my choice Question 2 For a reverse mortgage with 20-year term, loan amount $200,000, Interest rate 7%. There is no origination fee. What is the effective cost if the senior passes away in 5 years? Not yet answered Select one: Points out of 1.00 O a. 7% O b. 6.5% P Flag question O c. 4.5% O d. 5.4% Question 3 What is the balloon payment for an $50,000, 6%, Balloon Mortgage if the term is 10 years and the amortization is 30 years? Not yet answered Points out of 1.00 Select one: O a. $35,234.09 P Flag question O b. $2,345.94 O c. $23,098.92 O d. $41,842.08 Question 1 For a reverse mortgage with 20-year term, loan amount $200,000, Interest rate 7%. There is no origination fee. What is the effective cost of the loan if the senior lives out the entire loan? Answer saved Select one: Points out of 1.00 O a. 6.5% P Flag question O b. 7% O c. 5.4% O d. 4.5% Clear my choice Question 2 For a reverse mortgage with 20-year term, loan amount $200,000, Interest rate 7%. There is no origination fee. What is the effective cost if the senior passes away in 5 years? Not yet answered Select one: Points out of 1.00 O a. 7% O b. 6.5% P Flag question O c. 4.5% O d. 5.4% Question 3 What is the balloon payment for an $50,000, 6%, Balloon Mortgage if the term is 10 years and the amortization is 30 years? Not yet answered Points out of 1.00 Select one: O a. $35,234.09 P Flag question O b. $2,345.94 O c. $23,098.92 O d. $41,842.08