Please show step by step and formulas to solve and answer A. and B. You borrow a Graduated Payment Mortgage (GPM) of $400,000 with monthly payments and 15-year term.  The annual interest rate is 4%. The lender allows you to pay only 0.5 monthly PMT for the first 5 years and pay full monthly PMT thereafter. In other words, your payment factors are as follows:  month 1-month 60: 50%; and month 61- month 180: 100%.   Suppose that the origination cost of the loan is $5,000, please answer the following questions:   A. What is your monthly payment for the first 5 years?   B. What is your annual effective cost of the GPM if you hold the loan for an entire term?

Suppose you purchase a home and obtain a 15-year fixed-rate loan of $195,000 at an annual interest rate of 6.0%.   a) What is your monthly payment?       N:  months I %:  P.V: $ PMT: $ F.V: 0 P/Y: 12 C/Y: 12       b) Of the first month's mortgage payment, how much is interest?  HINT:  I=Prt   Interest: I=$       c) Of the first month's mortgage payment, how much is applied to the principal? HINT: PMT - Interest   Amount Applied to Principal: $        d) How much is your outstanding balance after the first month’s payment?  HINT: Principal - Amount Applied to Principal   Outstanding Balance after first payment: $

Use PMT = to determine the regular payment amount, rounded to the nearest cent. The cost of a home is financed with a $120,000 20-year - nt 1- fixed-rate mortgage at 4%. a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. ..... a. The monthly payment is $ 727.18 . (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for the loan is $ . (Use the answer from part a to find this answer. Round to the nearest cent as needed.)

Use PMT= to determine the regular payment amount, rounded to the nearest cent. The cost of a home is financed with a $160,000 30-year fixed-rate mortgage at 4%. a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. a. The monthly payment is $ 763.86. (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for the loan is $ 114989.60 (Use the answer from part a to find this answer. Round to the nearest cent as needed.) b. Fill out the loan amortization schedule for the first three months of the mortgage below. Payment Number Interest Principal Loan Balance (Use the answer from part a to find these answers. Round to the nearest cent as needed.)

Use PMT = to detemine the regular payment amount, rounded to the nearest cent. The cost of a home is financed with a $200,000 20-year - nt 1+ fixed-rate mortgage at 3.5%. a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. a. The monthly payment is $E (Do not round until the final answer, Then round to the nearest cent as ccess aUbra Success Resou More

Use PMT = to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $181,000. The bank requires a 20% down payment and three points at the time of closing. The cost of 1- the horme is financed with a 30-year fixed-rate mortgage at 7.5%. Complete parts (a) through (e) below. a. Find the required down payment. b. Find the amount of the mortgage. c. How much must be paid for the three points at closing? $ (Round to the nearest dollar as needed.) d. Find the monthly payment (excluding escrowed taxes and insurance). $ (Round to the nearest dollar as needed.) e. Find the total cost of interest over 30 years. $ (Round to the nearest dollar as needed.) Next MacBook Air 8884 %23 24 % & * 2 3 4 5 6 8. 9. R. T Y D K F. S'

Use PMT = to determine the regular payment amount, rounded to the nearest cent. The cost of a home is financed with a $150,000 20-year fixed-rate mortgage at 3.5%. -nt +1 a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for the loan is $. (Use the answer from part a to find this answer. Round to the nearest cent as needed.) b. Fill out the loan amortization schedule for the first three months of the mortgage below. Payment Number Interest Principal Loan Balance 1 $ 2. $ $ 3 $ $ (Use the answer from part a to find these answers. Round to the nearest cent as needed.)

Use PMT= to determine the regular payment amount, rounded the nearest cent. The cost of a home is financed with a $110,000 20-year fixed-rate mortgage at 3%. 1- 1+ a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for the loan is $. (Use the answer from part a to find this answer. Round to the nearest cent as needed.) b. Fill out the loan amortization schedule for the first three months of the mortgage below. Payment Number Interest Principal Loan Balance $4 2. $4 3 (Use the answer from part a to find these answers. Round to the nearest cent as needed.) Next MacBook Air esc F1 F7 F8 >> A F10 491 F9 %23 2 5 6. 8. T. Y U OI R S4 %#3

Suppose that you decide to borrow $13,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 6.3% Installment Loan B: five-year loan at 4.8% P. Use PMT = to complete parts (a) through (c) below. - nt 1- a. Find the monthly payments and the total interest for Loan A. The monthly payment for Loan A is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for Loan A is $. (Round to the nearest cent as needed.) b. Find the monthly payments and the total interest for Loan B. The monthly payment for Loan B is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for Loan B is $. (Round to the nearest cent as needed.) MacBook Air

Suppose you are buying your first condo for $190,000, and you will make a $10,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at 3.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be? You are not required to show calculations. However to receive credit you must provide the inputs used (N, PMT, FV, I/Y, PV) to solve. If you utilize a template, you can copy and paste the section used in the submission.      $808.28     $853.18     $527.78