QUESTION 9 A bank makes a 30-year fully amortizing FRM for $100.000 at an annual interest rate of 7% compounded monthly, with monthly payments What is the market value of this loan five years later the annual market interest rate for this loan drops to 4%? (Show your answer rounded to two decimal places) QUESTION 14 Jim has an annual income of $240.000 Jim is looking to buy a house with monthly property taxes of $200 and monthly homeowner's insurance of $100 Big Apple Bank has a maximum front-end DTI limit of 25% Considering only the front-end DTI limit, what is the most the bank will allow Jim to spend on a monthly mortgage payment? 5110 QUESTION 15 At the end of eight years, your friend wants to have $50,000 saved for a down payment on a house He expects to earn 8%, compounded monthly, on his investments over the next eight years How much (rounded to the nearest dollar) would your friend have to put in his investment account each month to reach his goal