Question: Show work through excel formulas: please actually show how you do it on excel exactly! 1. Suppose you have taken out a $125,000 fully-amortizing fixed

Show work through excel formulas: please actually show how you do it on excel exactly!

1. Suppose you have taken out a $125,000 fully-amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of 6%. After your first mortgage payment, how much of the original loan balance is remaining?

A. $1,054.82 B. $120,603.78 C. $124,570.18 D. $124,875.56

2. Assume you have taken out a partially amortizing loan for $325,000 that has a term of 7 years, but amortizes over 30 years. Calculate the balloon payment at maturity (Year 7) if the interest rate on this loan is 4.5%.

A. $1,646.73 B. $118,468.21 C. $282,835.42 D. $324,572.02

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