1. You are applying for a mortgage loan at 4.25% over 30 years with monthly payments. The home you are considering is at a price of $229,000. Lenders are offering 80% loan to value mortgages to you. What will be the balance of the loan after you have paid for a full 10 years?
   1. $109,877
   2. $145,540
   3. $111,765
   4. $97,027
2. Same facts as #1, how long will it take you to pay off 75% of the loan ?
   1. About 25.3 years
   2. About 29 years
   3. 270 months
   4. 24 and years

4. Same facts as #1 above, what was the original balance of the loan?
   1. $118,400
   2. $143,200
   3. Cannot determine given these facts
   4. $183,200

5. Same facts as #1, how much interest would you pay during the full life of the loan ?
   1. $85,703
   2. $141,244
   3. $81,158
   4. $51,792
6. Same facts as #1 above, what if you paid an extra $75 each month. How long would it take to pay off the loan in full ?
   1. 268 months
   2. Almost 22 years
   3. 309 months
   4. About 284 months