Amber received a 15 year loan of $245,000 to purchase a house. The interest rate on the loan was 5.70% compounded semi-annually. a. What is the size of the monthly loan payment? b. What is the balance of the loan at the end of year 4?c . By how much will the amortization period shorten if Amber makes an extra payment of $30,000 at the end of year 4?

Sarah secured a bank loan of $155,000 for the purchase of a house. The mortgage is to be amortized through monthly payments for a term of 15 years, with an interest rate of 3%/year compounded monthly on the unpaid balance. She plans to sell her house in 10 years. How much will Sarah still owe on her house? (Round your answer to the nearest cent.)$

Reggie availed of a deferred payment scheme from a bank that gave her an option to pay ₱5,500 monthly for 2 years. The first payment is due after 3 months. How much is the present value of the loan if the interest rate is 12% converted monthly?

Anushka and Benicio borrowed $47,000 at 7% compounded semi-annually as a second mortgage loan against their current home. Repayment amount is $9,400 at the end of every year. a. How many payments are required to repay the loan? Number of payments b. Use the given information to complete the amortization table below. Determine the missing values for the first two payment intervals, the last two payment intervals, and the totals. Report results to the nearest cent. Payment Number 0 1 2 ⠀ : N-1 N Total Amount Paid ($) 9,400.00 9,400.00 ⠀ ⠀ 9,400.00 Interest Paid ($) Principal Repaid ($) Outstanding Balance ($) 47,000.00 0.00