Question: Please include work!! Thank you so much! Question 11 (30 points) Your friend's 20 year mortgage was $500,000 with a rate of 4.54%. How much



Question 11 (30 points) Your friend's 20 year mortgage was $500,000 with a rate of 4.54%. How much interest does he still owe on the mortgage after 120 months of payments? Give your answer in whole numbers with no dollar sign. For example, if your answer suggest he still owes $59,194.38 in interest you would enter your answer as 59194 Your Answer: Answer Question 10 (30 points) Your friend's 30 year mortgage was $125,000 with a rate of 3.58%. How much interest has he paid after 120 months of payments? Give your answer in whole numbers with no dollar sign. For example, if your answer suggest he would actually have paid $59,194.38 in interest you would enter your answer as 59194 Your Answer: Answer Question 9 (16 points) Your friend bought a home and the amount he financed with a 30 year mortgage was $450,000. Due to his credit and the economy the rate on the mortgage is 5.01%. After 180 months of payments he is considering refinancing the mortgage. What is the amount he would need to borrow on the new mortgage? Give your answer in whole numbers with no dollar sign. For example, if your answer suggest he would have current principle of $15,194,38 you would enter your answer as 15194 Your Answer: Answer Question 8 (5 points) What will be the total paid on a home with a mortgage for $165,808 with an interest rate of 4.90% if the loan will mature in 24 years? Round to 2 decimal points and do NOT use a dollar sign. Your
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