Question: 4 . Use the following mortgage data to answer the following: ( 2 points each ) Loan Amt $ 1 9 3 , 0 0

4. Use the following mortgage data to answer the following: (2 points each) Loan Amt $193,000 Interest 6% Amortization 25 years Payments Monthly Points 2.5% A. What is the interest paid during month 28?___________________________ B. What is the effective interest rate if held to maturity? ___________________________ C. What is the effective interest rate if paid off at EOY 3?___________________________ D. Total amount of interest paid during year 2?___________________________ E. Outstanding loan balance at EOY 10?

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