Question
Victoria took out a fully amortizing 30 year mortgage with the initial balance of $125737. This mortgage has a fixed interest rate at 1%. How
Victoria took out a fully amortizing 30 year mortgage with the initial balance of $125737. This mortgage has a fixed interest rate at 1%. How much of Victoria's first payment was attributable to principal? Write the answer as a number rounded to two decimals (e.g. if you get $50,66666, write 50.67).
Nastya takes our a 10-year, fixed rate, fully amortizing loan for $732236 with 4.1% interest and annual payments. What will be her annual payments? Round your answer to the nearest cent (e.g. if your answer is $1,000.567, enter 1000.57).
Peifan is taking an Interest Only loan to purchase a $541827 property with 0.9 LTV. The loan is issued for 15 years with monthly payments and has a fixed interest rate at 2%. Under this mortgage contract, what will be Peifan's payment in the first month of the loan? State your answer as a number rounded to the nearest cent (e.g. if your answer is $1,000.568, write 1000.57).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started