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2.

For a $700,000 loan for 25 years at 8%, with monthly payments

Calculate the loan balance at the end of 15 years?

Calculate the amount of total principal reduction achieved over the 25?

Calculate the total interest paid over the 15 years?

When is the loan 60% paid off?

3.Calculate the mortgage payment for a $240,000 level payment mortgage loan amortized for 25 years at 8% interest, if the payments are made annually How much of the first years payment would be principal and how much would be interest If the mortgage is for 25 years with MONTHLY amortizing, what are the MONTHLY payments If the payments are monthly, what is the total annual debt service? How much of the first months payment is principal prepayment and how much is interest

4.For a $240,000 loan with monthly payments, at 8% interest for 25 years, the borrower had to pay 2 points in origination fees at the time the loan was made. If that loan is paid off in 5 years what is the effective yield of the loan, including the origination fees

5. (using info from question 5) Now presume that in addition to the points at the origination above, the borrower also has to pay 1 point in prepayment penalty at the time the loan is paid off. What is the EFFECTIVE yield including the origination fees and the prepayment penalty

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