A loan applicant applies for a loan on the applicant's primary residence. The loan has a fixed interest rate for the first three years and changes every year thereafter until the loan is paid in full. The payments cover both principal and interest over the life of the loan and are not stepped or tiered in any way. The mortgage loan originator should identify the loan's amortization type as: BO fixed-rate. adjustable-rate. DORATHY RAYMOND (SAFE MLO Test-National Component with Uniform State Content Session 1- Question 20 of 120 119 answered (СО graduated payment. D negative amortization. 2013
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- A project does not necessarily have a unique IRR. (Refer to the previous problem for more information on IRR.) Show that a project with the following cash flows has two IRRs: year 1, 20; year 2, 82; year 3, 60; year 4, 2. (Note: It can be shown that if the cash flow of a project changes sign only once, the project is guaranteed to have a unique IRR.)A real estate investor based in Corona Del Mar, California borrowed $43,200,000 from Union Bank secured by a 188,000 square foot suburban shopping center that she owned. The loan was a ten-year interest-only variable rate mortgage loan payable monthly with 30-day SOFR as the rate index. For the first two years, the loan had a teaser rate of 2%, after which the interest rate resets annually with 2% annual and 6% lifetime interest rate increase caps and a margin of 2.5%. On the first reset date, the 30-day SOFR was 3.5%. What was the monthly loan payment for the third loan year? a. Because of the interest rate caps, the monthly payment would not change b. $198,000 c. $144,000 d. $216,000Weismann Company issued 18-year bonds a year ago at a coupon rate of 11 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 10 percent, what is the current bond price?
- You have deposited $10,800 into an account that will earn an interest rate of 8% compounded semiannually. How much will you have in this account at the end of 10 years? $16,564.89 $27,213.75 $23,664.13 $28,396.96An annuity pays $25,000 semiannually (every 6 months) for 12 years. An alternative investment’s APR is 10% with quarterly compounding. What is the value of this annuity?Calculate the present value of a $1,000 zero-coupon bond with six years to maturity if the yield to maturity is 7%.
- Why might a borrower prefer a fully amortizing loan over an adjustable-rate mortgage? О The monthly mortgage payment will remain constant throughout the term of the loan The principal and interest payment varies each month. The payment towards interest increases as the loan is amortized. The interest rate may increase over the term of the loanIf a borrower takes out an interest-only loan, when are they expected to pay the principal of the loan? only after the borrower refinances as a balloon payment at the end of the loan term They aren't; interest over time will add up to more than the principal amount. in periodic monthly paymentsLong-term debt typically describes debt that will mature in two years or more. Select one: a. True b. False
- Many investors buy land with the intention of subdividing it. True FalseA couple wishes to borrow money using the equity in their home for collateral. A loan company will loan them up to 70% of their equity. They puchased their home 10 years ago for $68,132. The home was financed by paying 20% down and signing a 30-year mortgage at 8.4% on the unpaid balance. Equal monthly payments were made to amortize the loan over the 30-year period. The net market value of the house is now they applied to the loan company for the maximum loan. How much (to the nearest dollar) will they receive? $100,000. After making their 120th payment, Amount of loan: $ (Round to the nearest dollar.)Which of the following statements describes the payment amounts over the life of an ARM? A) Payments will remain constant for the life of the loan. B) Payments may go up or down in relation to the index rate. C) Payments may go up or down in relation to the margin rate. D) Payments may go up or down in relation to the equity in the property.