Consider a standard mortgage (360 months) with monthly payments and a nominal rate of 5.70%. What portion of the payments during the first 30 months goes toward interest?

G. Find the interest rate (APR) on a 27-year mortgage with a initial loan amount of $358,000, if the monthly payment is $2229.45 Let's use references for input values; and be sure to annualize the rate!                             INPUTS:   OUTPUT:               Period   Rate is   APR           Payment                   Loan amount

What is the monthly payment (beginning) of a 30 year, 4.8%, $200,000 mortgage?

Suppose that your unsubsidized Stafford loans plus accumulated interest total $ 34000 at the time you start repayment, the interest rate i 7.5% APR, and you elect the standard repayment plan of a fixed amount each month for 10 years. What is your monthly repayment? Repayment amount =

A 30-year mortgage requires payments of $3,541.80 at the end of each month. If interest is 2.71% compounded annually, a) what was the mortgage principal? $ b) what would be the amount of interest charged? $

A Fixed Rate Mortgage (FRM) for $160,000 is made at a time when the market interest rate is 12%. The loan is partially amortizing, at the end of the maturity date there is a balloon payment of $25,000 to be able to pay off all the loan. The loan has a maturity of 30 years and payments will be made monthly. What will be the monthly payments? (Answer is rounded)

Which of the following statements regarding a 30-year monthly payment amortized mortgage with a nominal interest rate of 8% is CORRECT? Exactly 8% of the first monthly payment represents interest. The monthly payments will decline over time. A smaller proportion of the last monthly payment will be interest, and a larger proportion will be principal, than for the first monthly payment. The total dollar amount of principal being paid off each month gets smaller as the loan approaches maturity. The amount representing interest in the first payment would be higherif the nominal interest rate were 6% rather than 8%.