What would be the interest portion of the payment scheduled

Reference no: EM13293706

A mortgage loan in the amount of $100,000 is made at 12% 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 20?
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 20?

b. What will the loan balance be at the end of year 5 under parts a (1) through a (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 a (4). What would be the APR for each?
e. If 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)?

Reference no: EM13293706

Questions Cloud

Calculate the annual after-tax cost of the interest expense : Assume the company has issued 15,000 bonds with a coupon rate of 10% and a face value of $1,000 per bond, and the company has a marginal tax rate of 40%. Calculate the annual after-tax cost of the interest expense.

What is the concentration of sodium ions : What is the concentration of sodium ions inside the cell during an action potential compared to the sodium concnetration at rest? What is the permeability of the membrane to sodium during an action potential compared to the sodium permeability at res..

Estimate the work done by the gas : When 5.30* 10^5 J of heat is added to a gas enclosed cylinder fitted with a light frictionless piston maintained at atmospheric pressure, estimate the work done by the gas

Membrane potential of neurons during a stroke : What do you expect will happen to the membrane potential of neurons during a stroke?

What would be the interest portion of the payment scheduled : A mortgage loan in the amount of $100,000 is made at 12% interest for 20 years. Payments are to be monthly in each part of this problem.

Find this ratio of minimum viewing distance to screen height : Your television picture is created by 480 horizontal lines of pixels, arranged on a screen of total height h. Calculate this ratio D/h of minimum viewing distance to screen height

Evaluate the lime dosage required for soften : Calculate the lime dosage required for soften- ing by selective calcium removal for the following water analysis. The dissolved solids in the water are CO2 = 17.6 mg/L, Ca2 + = 63 mg/L, Mg2 + = 15mg/L, Na + = 20mg/L, Alk (HCO3- )

Determine the current drawn by the series connection : wo (2) 115 - V incandescent lamps A and B are connectedin series across a 230-V source. if lamp A is rated 75 watts andlamp B is rated 50 watts, determine the current drawn by the series connection.

What is the resistance in the original circuit : The current in a series circuit is 6.0 A. When an additional 17.0 resistor is inserted in series, What is the resistance in the original circuit

User Account

All Pages