$14$:A borrower obtains a fully amortizing CPM loan for $$125,000$ at $6$ percent interest for $10$ years.Required:$1$What will be the monthly payment on the loan?$2$If this loan had a maturity of $30$ years, what would be the monthly payment?$15$:A partially amortizing mortgage is made for $$60,000$ for a term of $10$ years. The borrower and lender agree that a balance of $$20,000$ will remain and be repaid as a lump sum at that time.Required:$1$If the interest rate is $7$ percent, what must monthly payments be over the $10-$year period?$2$If the borrower chooses to repay the loan after five years instead of at the end of year $10,$ what must the loan balance be$?16$:John wants to buy a property for $$105,000$ and wants an $80$ percent loan for $$84,000.$ A lender indicates that a fully amortizing loan can be obtained for $30$ years $(360$ months$)$ at $6$ percent interest; however, a loan fee of $$3,500$ will also be necessary for John to obtain the loan.Required:$1$How much will the lender actually disburse at closing?$2$What is the APR for the borrower, assuming that the mortgage is paid off after $30$ years $($full term$)?3$If John pays off the loan after five years, what is the effective interest rate?$4$Assume the lender also imposes a prepayment penalty of $2$ percent of the outstanding loan balance if the loan is repaid within eight years of closing. If John repays the loan after five years with the prepayment penalty, what is the effective interest rate?