Given the following information, calculate the balloon payment for a partially amortizing mortgage: loan amount: $84,000; term to maturity: 7 years; amortization term: 30 years; interest rate: 4.5%; Monthly payment: $425.62.
Group of answer choices
$30,620
$9,458
$73,103
$84,000
Suppose a potential home buyer is interested in taking out a $500,000 mortgage loan that has a term of 30 years and a fixed mortgage rate of 5.25%. What is the monthly mortgage payment that the homeowner would need to make if this loan is fully amortizing?
Group of answer choices
$17,820.72
$33,458.47
$552.50
$2,761.02
You have taken out a $350,000, 3/1 ARM. The initial rate of 6.0% (annual) is locked in for three years. Payments are made monthly. Calculate the outstanding balance on the the loan after three years. The interest rate after the initial period is 6.5%. ( Note: the term on this 3/1 ARM is 30 years).
Group of answer choices
$336,294.25
$2,183.95
$2,098.43
$347,901.57
Suppose you have taken out a $125,000 fully amortizing fixed-rate mortgage loan that has a term of 15 years and an interest rate of 6%. After your first mortgage payment how much of the original loan balance is remaining?
Group of answer choices
$1.054.82
$120,603.78
$124,570.18
$124,875.56
Let’s assume that you have just taken out a mortgage loan for $200,000 with an origination fee of 2 points, due up front. The mortgage term is 30 years and the interest rate is 4%. What is the cost of the origination fee?
Group of answer choices
$400.00
$4,000.00
$4,954.83
$954.83
Suppose you have taken out a $400,000 fully amortizing fixed-rate mortgage loan that has a term of 15 years and an interest rate of 3.75%. In month 1 of the mortgage, what is the interest portion of that first payment?
Group of answer choices
$2,908.89
$9.09
$1,658.89
$1,250.00
Assume you have taken out a partially amortizing loan for $1,000,000 that has a term of seven years but amortizes over 20 years. Calculate the balloon payment if the interest rate on this loan is 9%. Payments are made monthly.
Group of answer choices
$8,997
$559,199
$936,405
$825,679
Given the following information, calculate the balloon payment for a partially a
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