Question: How would I solve, considering the answer the the precious question is $1527.73 2. Given the following information, calculate the monthly payment of an interest-only

How would I solve, considering the answer the the precious question is $1527.73

2. Given the following information, calculate the monthly payment of an interest-only mortgage: loan amount: $320,000 up-front financing costs: 3.0% of loan amount; term: 30 years; interest rate: 4.0%. A. $960.00 B. $1,066.67 C. $1,200.00 D. $1,333.33 E. $1,527.73 3. Using the same information as question 2 above: Assume you decide to sell your house after living in it for 10 years. How much will you have to pay the bank? In other words, what is the remaining mortgage balance on the interest-only loan? A. $0 B. $213,333 C. $252,109 D. $320,000 E. $400,000

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