Question

A borrower has a 30-year fully amortizing mortgage loan for $200,000 with an interest rate of 6% and monthly payments. If she wants to pay off the loan after 8 years, what would be the outstanding balance on the loan? (I know the correct answer would be $175,545, but how to find the amount that goes in interest and principal?)

Answer #1

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A borrower has a 30-year mortgage loan for $220,000 with an
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rate is 3.50%, compounded monthly. What will be Ann’s loan balance
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required monthly payment for 20 years)?
Using your answer from abovr, what fraction of the 241st payment
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monthly payments. The initial balance is $1,000,000. The interest
rate is 3.50%, compounded monthly. What will be Ann’s loan balance
after her 240th payment (if Ann makes exactly the required monthly
payment for 20 years)?
Also, Using your answer from Q11, what fraction of the 241st
payment will go to principal (in percent)?

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Mortgage with monthly payments for $135,000.
Mortgage A has a 5.25% interest rate and requires Ann to pay 1.5
points upfront.
Mortgage B has a 6% interest rate and requires Ann to pay zero
fees upfront.
Assuming Ann makes payments for 2 years before she sells the
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a borrower takes out a 30 year mortgage loan for $361,923 with
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