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Topic: **Finance homework help****Question:**
Any help is greatly appreciated. There are 3 questions that I did not from the homework problems, and I would like to see them to help me study. Thank you in advance.
Obtain the principal amount repaid during the last ten years of a $52,000 mortgage when n=25 and k=14%
a. $40,311.86
b. $40,314.86
c. $40,317.86
d. $40,320.86
determine the amount of interest expense on a 25 year mortgage of $52,000 with an interest rate of 14% assuming monthly compounding associated with the last payment
a. 7.22
b. 7.24
c. 7.26
d. none of the above
what is the effective yield on a 25 year fixed rate mortgage if 20 points are charged and the nominal interest rate is 14%? use the approximation formula
a. 17.2
b. 17.8
c. 18.8
d. none of the above

June 17, 2019 / By Clive

1. Take a financial calculator, set up with 4 decimals and put: PV: 52,000 N:300 I/Y: 14 PMT: 625.9557 Then 2nd - amort - P1=181 P2=300 (last 10 years) PRN=40,314.8553 2. PV: 52,000 N:300 I/Y: 14 PMT: 625.9557 Then 2nd - amort - P1=300 P2=300 (last payment) INT=7.2199 3. discount = 0.20 i=k/m=0.14/12=0.011667 r= (2i + d / mn) / 2 (1 - d) r= (0.023333 + 0.200000 / 300) / 2 * 0.800000 r= 0.024000 / 1.600000 r= 0.015000 r= 1.500000 * 12 r= 18.000000 = none of the above Hope it can help you. :)

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This question sounds like a test question so I suggest that you read your assignment or check your notes for the answer. Asking someone else to spoon feed you the answers will not help you gain the knowledge to run your business. If this is not a business class assignment, then I suggest you enroll in one at the nearest junior college to get your answers and more so you can run a business professionally. Junior colleges are very inexpensive and have many teachers that work part time and actually run a business. Good Luck

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