wance be at the end of 30 years? c. What is the effective annual rate on this loan? 21. Comprehensive Review Problem: A mortgage loan in the amount of S100,000 is made at 12 percent interest for 20 years. Payments are to be monthly in each part of this problem. a. What will monthly payments be 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 207 (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 207 b. What will the loan balance be at the end of year 5 under parts a (1) through (4)? c. 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? d. Assume that the lender charges 3 points to close the loans in parts a (1) through (4) What would be the APR for each? e. Assuming that 3 points are paid at closing and the 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) ? f. Assume conditions in a (1) except that payments will be interest only for the first three years (36 months). If the loan is to full mortive m e the animi. . .the.. .... ... Type here to search O Ate 9 w ADA 4 ENG 216020 2020 wance be at the end of 30 years? c. What is the effective annual rate on this loan? 21. Comprehensive Review Problem: A mortgage loan in the amount of S100,000 is made at 12 percent interest for 20 years. Payments are to be monthly in each part of this problem. a. What will monthly payments be 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 207 (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 207 b. What will the loan balance be at the end of year 5 under parts a (1) through (4)? c. 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? d. Assume that the lender charges 3 points to close the loans in parts a (1) through (4) What would be the APR for each? e. Assuming that 3 points are paid at closing and the 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) ? f. Assume conditions in a (1) except that payments will be interest only for the first three years (36 months). If the loan is to full mortive m e the animi. . .the.. .... ... Type here to search O Ate 9 w ADA 4 ENG 216020 2020