1) A loan of $10000 is to be repaid with monthly payments for 5 years at 6 % interest compounded monthly. Calculate the monthly payment.

2) How much money can you borrow at 12% interest compounded semiannually if the loan is to be repaid at half year intervals for 10 years and you can afford to pay $1000 per half- year ?

3) A mortgage at 9% interest compounded monthly with a monthly payment of $1125 has an unpaid balance of $10,000 after 350 months. Find the unpaid balance after 351 months

4) You purchase a $360000 house, pay $60000 down, and take out a 30 year mortgage with monthly payments, at an interest rate of 6.3% compounded monthly. How much money will you be paying each month?

5) You are considering the purchase of a condominium to use as a rental property. You estimate that you can rent the condominium for $1200 per month and that taxes, insurance, insurance and maintenance costs will run about $200 per month. If interest rates are 9% compounded monthly, how large a 25 year mortgage can you assume and still have the rental income cover the monthly expenses?

6) A car is purchased for $6287.10 with $2000 down and a loan to be repaid at $100 a month for 3 years followed by a balloon repayment . If the interest rate is 6% compounded monthly, how large will the balloon payment be?

7) If you take out a 30 year mortgage at 6.8% interest compounded monthly , what percentage of the of the principal will be paid off after 15 years?

8) The total interest paid on a 3 year loan at 6% interest compounded monthly is $1085.16. Determine the monthly payment for the loan.