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Compute the monthly loan constant

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-Suppose that you are interested in purchasing a 15 year fixed rate constant payment fully amortizing mortgage in the amount of $100,000 with payments to be made monthly. The contract rate is 6%. Compute the monthly loan constant. Express your answer as a %. For example, if your loan constant is .056 enter in the box below, 5.6%. Round your answer to three decimal places.

-Suppose that you are interested in purchasing a fixed rate constant payment fully amortizing mortgage in the amount of $100,000 with payments to be made monthly for 240 months. The contract rate is 6%. Compute the monthly loan constant.

-Suppose that you are interested in purchasing a 15 year fixed rate constant payment fully amortizing mortgage in the amount of $125,000 with payments to be made monthly. The contract rate is 6.25%. Compute the monthly payment.

-Suppose that you are interested in purchasing a 15 year fixed rate constant payment fully amortizing mortgage in the amount of $100,000 with payments to be made monthly. The contract rate is 6.%. What would the loan balance be after the borrower makes monthly payments for 5 years?

-Suppose that you are interested in purchasing a 15 year fixed rate constant payment fully amortizing mortgage in the amount of $100,000 with payments to be made monthly. The contract rate is 6.25%. What would the loan balance be after the borrower makes monthly payments for 6 years?

-Suppose that you are interested in purchasing a 15 year fixed rate constant payment fully amortizing mortgage in the amount of $100,000 with payments to be made monthly. The contract rate is 6%. However, assume that the lender is charging advance interest (e.g. discount points) in the amount of $5307.57. In addition, the borrower must pay an additional $1,000 in appraisal fees to acquire the loan, but this $1,000 fee will not be paid to the lender. Compute the Lender's Yield.

-Suppose that you are interested in purchasing a 15 year fixed rate constant payment fully amortizing mortgage in the amount of $100,000 with payments to be made monthly. The contract rate is 6%. However, assume that the lender is charging advance interest (e.g. discount points) in the amount of $5307.57. In addition, the borrower must pay an additional $1,000 in appraisal fees to acquire the loan, but this $1,000 fee will not be paid to the lender. Compute the Effective Borrowing Cost.

Reference no: EM132681570

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