Louisiana State University, Shreveport FIN FIN 422 For a $100,000 mortgage for 25 years at a 11.5% rate (monthly payments), find 1) the monthly payment 2) the annual debt serviceand constant=(annual
2) the annual debt service and constant =(annual payments divided by loan amount)
3) the balance outstanding at the end of year 5
40 if 8.685 points are charged, what is the dollar amount actually loaned?
5) if the loan is held for 30 years, what is the yield to the lender? – hint – subtract 8.685% from the $100,000 loan amount and enter as negative PV, then enter the monthly payment amount as pmt, enter 360 as n, and solve for %I (and multiply the answer by 12 to get the annual rate).
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