1. The mortgage payment on an investment property is $1,716 per month. The interest rate on the loan is 3.5% and the original term was 25 years, of which 15 years remain. What is the current balance on the loan?
2. You borrowed $689,000 with a loan that features constant amortization, a 10-year term, monthly payments, and an interest rate of 12%. What is the first monthly payment associated with this loan?
3. I borrowed $600,000 to purchase a house in Oxford. The mortgage loan has a 30-year term with monthly payments and the annual interest rate is 3.00%. What is the total interest associated with the first 12 payments of the loan?
4. The mortgage payment on an investment property is $848 per month. The interest rate on the loan is 3.0% and the original term was 25 years, of which 15 years remain. You inherited $17,000 and are going to use the funds to reduce the principal outstanding on the loan. What is the new payment required to amortize the remaining balance over the remaining term of the loan?
5. The mortgage payment on an investment property is $2,912 per month. The interest rate on the loan is 3.0% and the original term was 25 years, of which 15 years remain. You inherited $58,000 and are going to use the funds to reduce the principal outstanding on the loan. How many months will it take you to repay the loan if you continue to pay $2,912 per month?

Please submit your answer in number of months with two decimal places. For example, 83.32320 months would be input as 83.32.