24 Jul WHAT IS THE MORTGAGE LOAN BALANCE OF THE LOAN ABOVE AT THE END OF YEAR 5?
If your parents purchased an endowment policy of $10000 for you and the policy will Show more Question 1 If your parents purchased an endowment policy of $10000 for you and the policy will mature in 12 years how much is it worth today discounted at 15 percent annually? Year Project 1 Cash Flow Project 2 Cash Flow 0 -$10000 -$10000 1 1000 1000 2 2000 11000 3 12000 2000 QUESTION 2 What is the total of POSITVE cash flows for years 1-3 for Project 1? What is the total of POSITVE cash flows for years 1-3 for Project 2? QUESTION 3 What is the mortgage loan balance of the loan above at the end of year 5? 1 points QUESTION 4 A borrower takes a $300000 loan with fixed rate of 4% amortized with monthly payments over 30 years. There are prepaid finance charges of 1 point on the loan amount plus $1500. Calculate the APR. [Format Answer as a percentage X.XX] 1 points QUESTION 5 A borrower is considering a 1-year adjustable rate mortgage of $250000 that starts at 2.5% 30 year amortization. The margin is 2.25%. The annual change caps are 2% per year. The current index is 1.25%. The life cap is 6% over the start rate. What is the inital monthly payment? 1 points QUESTION 6 What is the fully indexed rate? [Format Answer as a percentage X.XX] 1 points QUESTION 7 At the end of year 1 what is the maximum allowed interest rate? [Format Answer as a percentage X.XX] 1 points QUESTION 8 If the INDEX moves up to 1.75% what is the monthly payment for year 2? [WARNING: The loan balance is paid down a bit during the first year.] Show less
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