Question: ANSWER PROBLEM 3 ONLY Problem 3 - Consider Problem 1 . For payments 1 - 1 1 we pay the regular payment computed in Problem

ANSWER PROBLEM 3 ONLY
Problem3- Consider Problem 1. For payments 1-11 we pay the regular payment computed in Problem1. At time k=12(payment #12) we send additional G=15,000 towards the principal. After that we keep paying the regular payment computed in Problem1. Questions -(i) at what time the loan will be paid off, (ii) compute the final payment, (iii) compute the total interest paid on this mortgage under the new payment, (iv) show the first two lines, lines 11,12,13, and the last two lines of the amortization table, (v) compute WAL and K05
Problem1- We borrow a mortgage $350,000 at 8.5% for 30 years. Questions -(i) compute regular monthly payment, (ii) compute the final payment, (iii) compute the total interest paid on this mortgage, (iv) show the first two and the last two lines of the amortization table, (v) compute WAL and KProblem2- Consider Problem 1. Assume that each month we pay addition $20(payment M = regular payment +20). Questions -(i) at what time the loan will be paid off, (ii) compute the final payment, (iii) compute the total interest paid on this mortgage under the new payment, (iv) show the first two and the last two lines of the amortization table, (v) compute WAL and K05
answer problem 3 only

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