Question: Hi, I need a help for my homework. Please please the image file, thank you! QUESTION 1 You need a 30-year, fixed rate mortgage to
Hi, I need a help for my homework. Please please the image file, thank you!

QUESTION 1 You need a 30-year, fixed rate mortgage to buy a new home for $240,000. Your mortgage bank will lend you the money at 6.35% per year for this 360-month loan. However, you can afford monthly payments of only $1,150, so you offer to first put in a down payment. How large will this down payment have to be for you to keep your monthly payments at $1, 150? QUESTION 2 You are trying to save money to buy a new $150,000 car. You have $35,000 today that can be invested at your bank. The bank pays 3.20%% annual interest on its accounts. How many Years will it be before you have enough to buy a car? (answer round to 2 decimal places). QUESTION 3 Prepare an amortization schedule for a three year loan of $75,000 at 8.00% per year, requiring equal annual payments. How much is the interest expense portion being paid in the third payment? QUESTION 4 Your employer would like to set aside a sum of money today so that you are able to spend $5,000 at the end of each year for the next 5 years on room refurbishment. Your employer is able to earn 8.00% per year on the invested money. What is the amound that needs to be invested today
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