A fully amortizing mortgage is made for $112,000 at 6.5 percent interest. Required: If the monthly payments are $1,060 per month, when will the loan be repaid? (Round up your answer to the nearest whole number)

A floating rate mortgage loan is made for $180,000 for a 30-year period at an initial rate of 12 percent interest. However, the borrower and lender have negotiated a monthly payment of $1,440. Required: a. What will be the loan balance at the end of year 1? b. If the interest rate increases to 13 percent at the end of year 2, how much is the payment plus negative amortization in year 2 and year 5 if the payment remains at $1,440? Complete this question by entering your answers in the tabs below. Required A Required B If the interest rate increases to 13 percent at the end of year 2, how much is the payment plus negative amortization in year 2 and year 5 if the payment remains at $1,440? Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Loan balance in year 2 Interest accrued - Year 2 Interest accrued - Years 2 - Year 5

Given the following information, calculate the balloon payment for a partially amortized mortgage: loan amount: $155,000; term to maturity: 7 years; amortization term: 15 years; interest rate: 5.5%.

A mortgage loan having a face value of \\( \\$ 265,000 \\) is arranged by a mortgage broker. From this face value, the broker deducted a fee of \\( \\$ 4,000 \\). The mortgage is written at a contract rate of \\( 3.2 \\% \\) compounded semiannually for a twenty-five year term, with monthly payments. What is the annual cost of borrowing, including the brokerage fee, expressed as an effective interest rate? \\( 3.00 \\% \\) \\( 3.37 \\% \\) \\( 3.73 \\% \\) \\( 4.15 \\% \\) \\( 4.09 \\% \\)