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THIS IS ONE QUESTION - Please help me fill in the blanks, NO need for an explanation or work shown Problem 4-21 A mortgage loan
THIS IS ONE QUESTION
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. ces Required A Required B. Required C What will be the monthly payment 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? Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. a1. Monthly payment if fully amortizing a2. Monthly payment if partial amortizing a3. Monthly payment if interest only a4. Monthly payment if negative amortization Required D Required E $ 716.43 Required F Required G Show Complete this question by entering your answers in the tabs below. Required C Required D Required E Required F 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 A Required B c1. Interest if fully amortizing 02. Interest if partial amortizing c3. Interest if interest only C4. Interest if negative amortization Required G Required A Required B Required C Required D Required E Required F Required G Assume that the lender charges 3 points to close the loans in parts a (1) through a (4). What would be the APR for each? Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. d1. APR if fully amortizing d2 APR if partial amortizing d3. APR if interest only d4 APR if negative amortization 6.38 % % % % Required A Required B Required E Required F Assuming that 3 points are paid at closing and the 20-year loan is prepaid at the end of year 5, what will be the effective rate of interest for each loan in parts a (1) through a (4)? Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Required C e1. Effective rate of interest if fully amortizing e2. Effective rate of interest if partial amortizing e3. Effective rate of interest if interest only e4. Effective rate of interest if negative amortization Required D % % % % Required G Required C Required D Required E Required F Required G If this is a negative amortizing loan and the borrower and lender agree that the loan balance of $150,000 will be payable at the end of year 20: (1) How much total interest will be paid from all payments? How much total principal will be paid? Required A Required B Note: Round your final answer to 2 decimal places. (2) What will be the loan balance at the end of year 3? Note: Round your final answer to 2 decimal places. (3) If the loan is repaid at the end of year 3, what will be the effective rate of interest? (4) If the lender charges 4 points to make this loan, what will the effective rate of interest be if the loan is repaid at the end of year 3? Note: Round your final answer to 2 decimal places. 91. Total interest g1 Total principal 92 Loan balance 93. Effective rate of interest 94. Effective rate of interest if lender charges 4 points - Please help me fill in the blanks, NO need for an explanation or work shown
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