Order these loans from highest monthly payment to lowest monthly payment. (Enter

Question

Order these loans from highest monthly payment to lowest monthly payment. (Enter 1 as your answer to designate loan with highest payment, 2 as loan with second highest payment, and so on up to 5 to designate loan with lowest payment.) Each of the following loans is for $300,000 and is a fixed rate mortgage with a 3.5% interest rate. Balloon payment of S500,000 is due at maturity Balloon payment of $250,000 is due at maturity The loan is fully repaid at maturity Interest-only payments for the duration of the loan Balloon payment of S100,000 is due at maturity

Explanation / Answer

The numbering is as per the options given above

5- balloon payment of 500,000

3

1

4

2

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