Question

10. What is the payment in month 234 on a 30-year loan for $725,000 at 4.85% that requires payments of $0 for the first five years and fully amortizing payments for the remaining years of the loan? (On Excel) Loan Amount:
Years:
Periods Per Year:
Interest Rate:
Balance at EOM 60:
Total Amortization Years:
What is the balloon payment due at maturity for a 10-year loan for $225,000 at 5.85% if the negotiated payment amount each month is $100 less than the payment would be if the loan were fully amortizing? Loan Amount:
Years:
Periods Per Year:
Interest Rate:
Fully Amortizing Payment:
Negotiated Payment Shortfall:
Negotiated Monthly Payment:

Answer 1