Question: bru 3 4 3 0 7 _ ch 0 4 _ 0 7 8 - 1 2 1 . indd 1 1 0 0 2

bru34307_ch04_078-121.indd 11002/02/2112:28 PM110 Part 2 Mortgage Loans 1. A borrower obtains a fully amortizing CPM loan for $125,000 at 6 percent interest for 10 years. What will be the monthly payment on the loan? If this loan had a maturity of 30 years, what would be the monthly payment? 2. A fully amortizing mortgage loan is made for $80,000 at 6 percent interest for 25 years. Payments are to be made monthly. Calculate: a. Monthly payments. b. Interest and principal payments during month 1. c. Total principal and total interest paid over 25 years. d. The outstanding loan balance if the loan is repaid at the end of year 10. e. Total monthly interest and principal payments through year 10. f. What would the breakdown of interest and principal be during month 50?

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