The interest rate for the first five years of a $95,000 mortgage is 7.2% compounded semiannually. Monthly payments are based on a 25-year amortization. Suppose a $3,000 prepayment is made at the end of the third year. a. How much will the amortization period be shortened?

A mortgage of $176,000 is to be repaid by making payments of $1010 at the end of each month. If interest is 5.74% per annum compounded annually, what is the term of the mortgage? State your answer in years and months (from 0 to 11 months). The term of the mortgage is year(s) and month(s).

Calculate the monthly payment of a $750,000 mortgage. The mortgage has an amortization of 25 years. The interest rate for a 5-year term mortgage is 5.70% compounded semi-annually not in advance.

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 fully amortizing mortgage loan in the amount of $100,000 is made at 12 percent interest for 20 years. Payments are to be monthly. If 3 points are deducted in closing costs, what is the effective interest rate for the loan?

The balance on a mortgage was $43,200 and an interest rate of 5.50% compounded semi-annually was charged for the remaining 3-year term. Monthly payments were made to settle the mortgage. a. Calculate the size of the monthly payments. SO Round up to the next whole number b. If the monthly payments were set at $1,454, how long would it take to pay off the mortgage? 0 years 0 months Express the answer in years and months, rounded to the next payment period c. If the monthly payments were set at $1,454, calculate the size of the final payment. $0.00 Round to the nearest cent