PLEASE EXPLAIN HOW TO SOLVE USING A FINANCIAL CALCULATOR.

1)

Maryann has a partially amortizing mortgage loan with the following information: Loan amount = $150,000 Note rate = 7.5% Monthly payment = $1,048.82 Amortization period = 30 years term to maturity = 10 years What will be the balloon payment due when the loan matures at the end of year ten? A) $150,000 B) $130,192 C) $125,200 D) $88,358

2)

Using the loan information below, calculate the EBC if the borrower prepays the loan at the end of year 6.

Loan amount = $195,000 Term = 30 years Interest rate = 7% Monthly payment = $1,297.34 Discount points = $3,900 Additional closing costs = $5,100 A) 6.79% B) 7.29% C) 7.56% D) 8.00%