Topic $9$: Reverse Mortgage

$92.$ Consider a household that owns a $$100,000$ home free and clear of mortgage debt. The lender agrees to a $$70,000$ reverse mortgage $($RAM$)$ for $10$ years at $9$ percent. Assume payments are made annually, at the beginning of each year, to the homeowner. Compute the annual payment and build the loan amortization schedule.

$93.$ Consider a household that owns a $$130,000$ home free and clear of mortgage debt. The lender agrees to a $$100,000$ reverse mortgage $($RAM$)$ for $15$ years at $8$ percent. Assume payments are made annually, at the beginning of each year, to the homeowner. Compute the annual payment and build the loan amortization schedule.

$94.$ Consider a household that owns a $$100,000$ home free and clear of mortgage debt. The lender agrees to a $$70,000$ reverse mortgage $($RAM$)$ for $10$ years at $6$ percent. a$)$ Assume payments are made annually, at the beginning of each year, to the homeowner. Compute the annual payment and build the loan amortization schedule. b$)$ Assume payments are made annually, at the end of each year, to the homeowner. Compute the annual payment and build the loan amortization schedule.

$95.$ Assume an elderly couple owns a $$140,000$ home that is free and clear of mortgage debt. A