A borrower takes out a 30-year mortgage loan for $250,000 with an interest rate of 5% APR compounded monthly with level monthly payments. There is also a 2% Origination Fee so at the very beginning, she receives 250,000*98% = 245,000. Assume she will pay the loan for 30 years following the original loan schedule. What would be the Effective Annual Rate (EAR)? Hints: 1. Monthly Payment is based on $250,000; 4 2. with Excel Rate function, calculate the Effective Monthly Rate (EMR), here PV is what the borrower actually receives (after deduction of 2%) 3. then EAR= (1+EMR)^12-1 O 5.30% O 5% 4.70% O Not enough information

Assume you graduate from university with a $20,000 student loan. If your interest rate is fixed at 4.55% APR with monthly compounding and you will repay the loan over a 20-year period, what will be your monthly payment? The monthly payment will be $ (Round to two decimal places.)

Please show full steps along with concept.

Consider a home mortgage of $125,000 at a fixed APR of 4.5% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. ..... a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

You have a 30-year mortgage loan for $250,000 with an interest rate of 6% which requires you to make the payments monthly.  If you make a monthly payment of $1,300 how much money will be owed at maturity?   Can you please show how to do this in excell, thank you!

1. You have been approved for a mortgage for a property. The mortgage is for a 20-year period with a 7.2% annual interest rate for a total amount of $1,700,000  What is the annual payment if payments are made annually What would you put in your annual cash flow if you were paying the mortgage on a monthly basis? What will be the interest and principal payments for the second and third years of the mortgage? What will be the remaining principal balance at the end of the fifth year? Answer question using excel formulas

A borrower is making a choice between a mortgage with monthly payments or biweekly payments. The loan will be $238,000 at 6 percent interest for 20 years. Required: a. hat would be the maturity period if payments are bi-weekly? How much will the borrower pay in total under each payment option? Which choice would be less costly to the borrower? Hint: Assume 26 total bi-weekly payments per year for the maturity period. b. Assume that the bi-weekly loan was available for 5.75%. What would be the maturity period if payments are bi-weekly? How much will the borrower pay in total under each payment option? Which choice would be less costly for the borrower? Complete this question by entering your answers in the tabs below. Required A Required B hat would be the maturity period if payments are bi-weekly? How much will the borrower pay in total option? Which choice would be less costly to the borrower? Hint: Assume 26 total bi-weekly payments maturity period. Note: (Do not round intermediate…