1. What is the house value (critical thinking required) on a 20 percent down mortgage with payments of
a. $3,219.73 per month for 30 years at 8 percent interest?
b. $7,833.65 per month for 15 years at 15 percent interest?
c. $3,656.85 per month for 30 years at 8 percent interest?
d. $5,217.22 per month for 15 years at 8 percent interest?
2. Mortgages. (Hint: P/Y=12) What is the interest rate on a mortgage of
a. $142422 with a payment of 1,464.97 for 30 years?
b. $135044 with a payment of 1,290.55 for 15 years?
c. $202083 with a payment of 1,626.01 for 30 years?
d. $197682 with a payment of 1,776.82 for 15 years?
3. Mortgage. (Hint: P/Y=12) What is the payoff on a 30 year, 6% original mortgage of
a. $174651 with a payment of 1,047.12 with 13 years remaining?
b. $172717 with a payment of 1,035.53 with 13 years remaining?
c. $189268 with a payment of 1,134.76 with 11 years remaining?
d. $188249 with a payment of 1,128.65 with 4 years remaining?