St Cloud State University Real Estate Mortgage Calculation Exercise Worksheet

St Cloud State University

### Question Description

I need an explanation for this Economics question to help me study.

Hi,

this is a homework for a real estate class. Please solve problems number( 1,2,9,10,11 and 12 ) only.

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_11.jpg

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Attached.

MORTGAGE CALCULATION - HOMEWORK

Mortgage Calculation - Homework
Student Name
Institution Affiliation

1

MORTGAGE CALCULATION - HOMEWORK
Mortgage Calculation-Homework
1. Monthly payment=\$1581.59
Interest rate=5%p.a
Term=15 years
Original loan size
(1−(1+𝑖)−𝑛 )

PV=𝑃𝑀𝑇 ∗

𝑖
0.05

(1−(1+
)−180
=\$1581.59* 0.0512
⁄12

=\$200,000.35 which is rounded off.
≈ \$200,000
2. Loan=\$100,000
Interest=4% p.a
Term = 30 years
Balance at the end of 4 years
Balance=P

[(1+𝑟)𝑛 −(1+𝑟)𝑚 ]
(1+𝑟)𝑛 −1

[(1+

=\$100,000*

0.04 360
0.04 48
) −(1+
)
12
12
0.04 360
(1+
)
−1
12

=...

Cornell University
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