1. Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 5.00%. What portion of the payments during the first 34 months goes toward interest?
76.00%
73.99%
80.59%
75.00%
70.70%
2. What is the remaining balance on a $125,000.00 mortgage after 110 months? The mortgage is a a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.10%.
$109,021
$103,563
$109,024
$104,002
$107,067
3. What is the remaining balance on a $225,000.00 mortgage after 90 months? The mortgage is a a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.80%.
$199,374
$183,699
$205,617
$189,231
$202,560
4. What is the required monthly payment on a $310,000.00 mortgage. Assume a standard mortgage (360 months) with monthly payments. Use a nominal rate (monthly compounding) of 5.90%.
$1,655
$1,838
$1,796
$1,970
$1,755
5. Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 5.50%. What portion of the payments during the first 25 months goes toward principal?
18.53%
20.38%
21.66%
20.74%
21.29%
6. What is the remaining balance on a $475,000.00 mortgage after 100 months? The mortgage is a a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 5.80%.
$402,311
$412,027
$406,843
$396,379
$435,684
7. Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.70%. What portion of the payments during the first 30 months goes toward principal?
15.44%
14.80%
15.37%
14.62%
15.32%
8. What is the remaining balance on a $325,000.00 mortgage after 115 months? The mortgage is a a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.30%.
$282,074
$285,432
$273,279
$276,945
$300,156
9. What is the required monthly payment on a $510,000.00 mortgage. Assume a standard mortgage (360 months) with monthly payments. Use a nominal rate (monthly compounding) of 5.80%.
$3,263
$2,992
$3,193
$3,234
$2,888
10. Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.20%. What portion of the payments during the first 32 months goes toward principal?
16.73%
15.96%
17.59%
15.86%
16.96%