Q. 1 A. If I have a mortgage of $200,000 payable in 360 payments at 6.25% APR Wh

ID: 2752788 • Letter: Q

Question

Q. 1

A. If I have a mortgage of $200,000 payable in 360 payments at 6.25% APR

What would my payment be if I had a balloon payment of $100,000? _______________

B. If I can afford $1500 per month, and loans were available at 4.25% for 30years

What amount of loan would be available to me? _______________

What if I could increase my monthly payment to $2000, what amount could I have? _______________

C. How long will it take to pay off my $350,000 mortgage @5.5%

If I pay $2500 per month? _______________

If I pay $3000 per month? _______________

D. I have a loan for $300,000 amortized for 30 years payable at $1500/mo at 4.5%

What is the balloon payment at the end of the term? _______________

What would my payment be if it were fully amortized? _______________

a- If I have a mortgage of $200,000 payable in 360 payments at 6.25% APR What would my payment be if I had a balloon payment of $100,000? $1,136.55

b-If I can afford $1500 per month, and loans were available at 4.25% for 30years What amount of loan would be available to me? 304915.3

What if I could increase my monthly payment to $2000, what amount could I have? 406553.73

c- How long will it take to pay off my $350,000 mortgage @5.5% If I pay $2500 per month? 18.703 Years

If I pay $3000 per month? 13.943 years

d- I have a loan for $300,000 amortized for 30 years payable at $1500/mo at 4.5%

What is the balloon payment at the end of the term? 1,516.71

What would my payment be if it were fully amortized? 1,520.06.

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