I need help with all 3 questions please QUESTION 8 10 points Save Answer...
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I need help with all 3 questions please
QUESTION 8 10 points Save Answer A borrower seeking to buy a $250,000 property with a 80% LTV ratio is considering two mortgage choices: a FRM or a FRM with an IO period. The lender offers the following two loans: Loan 1: 30 year FRM, fully amortizing monthly payments; 4% interest Loan 2: 30 year FRM with 4 year IO period, fully amortizing monthly payments; 4.15% interest How do these two loans compare on 1) monthly payments 2) total interest due over life of the loan? If you were deciding between these two loans, which would you pick and why? (2-3 sentences max) T T T l Paragraph :11 Arial :| | 3 (12pt) :l :- T . Path: p Words:0 QUESTION 9 10 points Save Answer A fully amortizing mortgage loan is made for $80,000 at 6 percent interest for 25 years. Payments are to be made monthly. Calculate the monthly payments (Round your answer to two decimal places. Please a positive number, no "$ sign). QUESTION 10 10 points Save Answer A fully amortizing mortgage loan is made for $80,000 at 6 percent inteest for 25 years. Payments are to be made monthly. Calculate the principal payments during month 1 (Round your answer to two decimal places. Please a positive number, no "$" sign)
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