Question: Create an amortization schedule using the following assumptions: What is the loan amount? Loan term; 25 year - ARM Purchase price: $130,000 Down payment: 5%

Create an amortization schedule using the following assumptions: What is the loan amount? Loan term; 25 year - ARM Purchase price: $130,000 Down

Create an amortization schedule using the following assumptions: What is the loan amount? Loan term; 25 year - ARM Purchase price: $130,000 Down payment: 5% Interest Rate: Year 1 - 12% Year 2-8% $123,500 O $114,000 O $130,000 O none of the above Using the assumptions in question #11, what is the loan balance in year 2? $122,457 $122,150 $130,000 none of the above

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