You buy A house for $110,000. Financing is 70% of the price with a 30 year amortization at 3.5% interest

(need help on questions E-I)

The SAME loan has an amortization of 15 years. How would this impact: d) The monthly payment (new payment, and difference in payments)? (3pts) e) Total interest if held to maturity (dollar amount difference and direction)? (3pts) f) If the borrower decided to make $1,000 payments each month instead of the scheduled payments, how long would it take to pay off this mortgage? (3pts) Assume the 70% loan, a 30-year amortization, two points up front and a 5% prepayment penalty. You pay the loan off after 5 years. B) What is the balance at the end of year 5? (3pts) h) What is the dollar amount of the prepayment penalty? (3 pts) I 1) What is the effective rate if the loan was paid off in year 5? (3 pts)