Please answer #5

1. A lender is offering you a $150,000 30-year Fbced-Rate Mortgage (FRM) at 4.82% What is your monthly payment over the life of the loan? PV. 1 50,000 t-3012-360-4.82/12-.4% FV-o Monthly PMNT-$787 2. You decide to originate the loan in Problem #1, but move at the end of 10 years. What is the remaining balance you owe the bank given the due-on-sale clause? Using amortization function; after 10 years (120 months) Balance amount of FRM is $121,271.12 3. You decide to originate the loan in Problem #1. How much interest on the loan will you pay during the loan's first 12 payments? 150000 150000 360 4.82% 0.4% 30 MonthsPMT PRINCIPAL INTEREST BALANCE 1)1186.3s602.50 S149,813.69 2 $788.81) ($187.06) ($601.75) $149,626.63 3 ($788.81) ($187.81)(S601.0 $149,438.81 4 (5788.81) ($188.57) ($600.25) $149,250.25 ($788.81) ($189.32) (599.49) $149,060.92 ($788.81) ($190.08) (S598.73) S148,87.84 7($788.81) ($190.85) ($597.96) $148,679.99 8 (S788.81) ($191.61) ($597.20) $148,488.38 9 (S788.81) ($192.38) ($596.43) $148,295.99 10 (5788.81) (5193.16) (S595.66) $148,102.84 11 ($788.81) ($193.93) ($594.88) $147,908.90 ($788.81) ($104.71) (SS04.10) S47,714.19interest in First12 Months (S,179.94) 12 Use PPMT function to arrive at principle payments, put Rate as 4.82%/2, per as in column #1 : ORAL as 360, pv-150,000 FVa0 Use IPMT function to arrive at interest payments, put rate as 4 82%/2, per awain Add first 12 1PMT Values to arrive at interest paid in first 12 months summuatu change # of period to 96 instead of 360 4. For originating the loan in Problem #1, you agree to pay the lender 1.5 points. A) How much in ongination fees do you owe the lender? is is 0 015%of:oan amount 022 50