8. 13 years ago a household took out a 20 year Interest Only $350,000 loan at a fixed-rate of 3.85%. How much is the outstanding principal on the loan? a) $235,491.43 b) $173,167.38 c) $350,000.00 d) $121,467.84 19. Based on a partially amortizing $625,000 loan with a balloon payment of 20% what are the monthly repayments with a term of 25 years and an interest rate of 4.85% a) $3,481.17 b) $3,384.63 c) $2,976.75 d) $3,599.28 20. How much would the total repayments differ between a fully amortizing 25 year loan for $500,000 at 6.55% and an identical loan repaid over 15 years? a) $139,477.56 b) $184,816.63 c) $289,110.40 d) $231,029.65
8. 13 years ago a household took out a 20 year Interest Only $350,000 loan at a fixed-rate of 3.85%. How much is the outstanding principal on the loan? a) $235,491.43 b) $173,167.38 c) $350,000.00 d) $121,467.84 19. Based on a partially amortizing $625,000 loan with a balloon payment of 20% what are the monthly repayments with a term of 25 years and an interest rate of 4.85% a) $3,481.17 b) $3,384.63 c) $2,976.75 d) $3,599.28 20. How much would the total repayments differ between a fully amortizing 25 year loan for $500,000 at 6.55% and an identical loan repaid over 15 years? a) $139,477.56 b) $184,816.63 c) $289,110.40 d) $231,029.65
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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18. 13 years ago a household took out a 20 year Interest Only $350,000 loan at a fixed-rate of 3.85%. How much is the outstanding principal on the loan? a) $235,491.43 b) $173,167.38 c) $350,000.00 d) $121,467.84
19. Based on a partially amortizing $625,000 loan with a balloon payment of 20% what are the monthly repayments with a term of 25 years and an interest rate of 4.85% a) $3,481.17 b) $3,384.63 c) $2,976.75 d) $3,599.28
20. How much would the total repayments differ between a fully amortizing 25 year loan for $500,000 at 6.55% and an identical loan repaid over 15 years? a) $139,477.56 b) $184,816.63 c) $289,110.40 d) $231,029.65
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