1. Find the proceeds of a $5000 7-year note bearing interest at 8% compounded quarterly discounted 2½ years after the date of issue at 6% compounded monthly.
2. Are Call loans or Demand Loans considered rate-sensitive?
3. You borrowed $290,000 to purchase a home using a fifteen year mortgage with a stated rate of 3.125 percent per annum, and monthly payment. Calculate your loan balance just after making payments for five years.