Repayment to interest is equal to repayment to principal

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Reference no: EM132008770

1. You have locked-in 6.0% for a 30-year FRM for $240,000. What is the size of the 3rd payment that attributes to the repayment of principal? Around what point in time, the repayment to interest is equal to the repayment to principal?

2. What is the monthly payment of a $346,000 10-year term fixed rate mortgage at 9.6% loan with payments set to amortize over a 30-year period before maturity? What would be the size of the balloon payment at the end of year 10?

3. What is the monthly payment and the balance after 45 payments of a $100,000 30-year FRM loan at 4.8%?

Reference no: EM132008770

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