SlideShare a Scribd company logo
Mr. Qualify is applying for a $102,200GPM loan for 25 years at an interest rate of 9 percent.
Payments would be designed so as to graduate at the rate of 7.6 percent for three years beginning
with payments in the second year. Required: a. What would the monthly payments be for Mr.
Qualify in each of the first five years of the loan? b. What would the loan balance be on the GPM
at the end of year 3 ? c. If the lender charged 4 points at origination, what would be the effective
interest rate on this loan after five years? Complete this question by entering your answers in the
tabs below. What would the monthly payments be for Mr. Qualify in each of the first five years
of the loan? (Do not round intermediate calculations, Round your finat answers to 2 decimal
places.)

More Related Content

More from americandigitalshop

1. Which of the following could pose a challenge in building partner.pdf
1. Which of the following could pose a challenge in building partner.pdf1. Which of the following could pose a challenge in building partner.pdf
1. Which of the following could pose a challenge in building partner.pdf
americandigitalshop
 
Mike is a graduating high school student. He received an outstanding .pdf
 Mike is a graduating high school student. He received an outstanding .pdf Mike is a graduating high school student. He received an outstanding .pdf
Mike is a graduating high school student. He received an outstanding .pdf
americandigitalshop
 
Mrs. Adams has experienced gradual but significant hearing loss and.pdf
 Mrs. Adams has experienced gradual but significant hearing loss and.pdf Mrs. Adams has experienced gradual but significant hearing loss and.pdf
Mrs. Adams has experienced gradual but significant hearing loss and.pdf
americandigitalshop
 
mrough (d) below Clok the icon 10 wew the uabie a. Find the probablit.pdf
 mrough (d) below Clok the icon 10 wew the uabie a. Find the probablit.pdf mrough (d) below Clok the icon 10 wew the uabie a. Find the probablit.pdf
mrough (d) below Clok the icon 10 wew the uabie a. Find the probablit.pdf
americandigitalshop
 
Michael has utility over going to Yoga (y) and going to a museum (m) .pdf
 Michael has utility over going to Yoga (y) and going to a museum (m) .pdf Michael has utility over going to Yoga (y) and going to a museum (m) .pdf
Michael has utility over going to Yoga (y) and going to a museum (m) .pdf
americandigitalshop
 
Meiosis and mitosis are both forms of cell division. However, the out.pdf
 Meiosis and mitosis are both forms of cell division. However, the out.pdf Meiosis and mitosis are both forms of cell division. However, the out.pdf
Meiosis and mitosis are both forms of cell division. However, the out.pdf
americandigitalshop
 
Metfi 120 (introduction to Weather and Climato) Orline - Unit 2 Revie.pdf
 Metfi 120 (introduction to Weather and Climato) Orline - Unit 2 Revie.pdf Metfi 120 (introduction to Weather and Climato) Orline - Unit 2 Revie.pdf
Metfi 120 (introduction to Weather and Climato) Orline - Unit 2 Revie.pdf
americandigitalshop
 
me Insert Draw Page Layout Formulas Data Review View Automate Tel.pdf
 me Insert Draw Page Layout Formulas Data Review View Automate  Tel.pdf me Insert Draw Page Layout Formulas Data Review View Automate  Tel.pdf
me Insert Draw Page Layout Formulas Data Review View Automate Tel.pdf
americandigitalshop
 
Match the terms with its best definition or description. Basic Eaming.pdf
 Match the terms with its best definition or description. Basic Eaming.pdf Match the terms with its best definition or description. Basic Eaming.pdf
Match the terms with its best definition or description. Basic Eaming.pdf
americandigitalshop
 
Match the words in the lenthand column to the appropriate blank in th.pdf
 Match the words in the lenthand column to the appropriate blank in th.pdf Match the words in the lenthand column to the appropriate blank in th.pdf
Match the words in the lenthand column to the appropriate blank in th.pdf
americandigitalshop
 
Match the vitamin or mineral with a good food source. There is ONLY o.pdf
 Match the vitamin or mineral with a good food source. There is ONLY o.pdf Match the vitamin or mineral with a good food source. There is ONLY o.pdf
Match the vitamin or mineral with a good food source. There is ONLY o.pdf
americandigitalshop
 
Mediate the movement of a single solute from one side of the membrane.pdf
 Mediate the movement of a single solute from one side of the membrane.pdf Mediate the movement of a single solute from one side of the membrane.pdf
Mediate the movement of a single solute from one side of the membrane.pdf
americandigitalshop
 
Max, a current lacrosse student-athlete, paid $10 to enter a March Ma.pdf
 Max, a current lacrosse student-athlete, paid $10 to enter a March Ma.pdf Max, a current lacrosse student-athlete, paid $10 to enter a March Ma.pdf
Max, a current lacrosse student-athlete, paid $10 to enter a March Ma.pdf
americandigitalshop
 
Math 10X Take Home Quiz 4 Sections 4.1 and 4.2 1. In the following pr.pdf
 Math 10X Take Home Quiz 4 Sections 4.1 and 4.2 1. In the following pr.pdf Math 10X Take Home Quiz 4 Sections 4.1 and 4.2 1. In the following pr.pdf
Math 10X Take Home Quiz 4 Sections 4.1 and 4.2 1. In the following pr.pdf
americandigitalshop
 
Matching- some answers may be used more than once agents that cause d.pdf
 Matching- some answers may be used more than once agents that cause d.pdf Matching- some answers may be used more than once agents that cause d.pdf
Matching- some answers may be used more than once agents that cause d.pdf
americandigitalshop
 
Matching Quiz Match the words in the first column to the best availab.pdf
 Matching Quiz Match the words in the first column to the best availab.pdf Matching Quiz Match the words in the first column to the best availab.pdf
Matching Quiz Match the words in the first column to the best availab.pdf
americandigitalshop
 
Match. Match these phyla to the descriptions. �a��b��c��d��e��ab��Phy.pdf
 Match. Match these phyla to the descriptions. �a��b��c��d��e��ab��Phy.pdf Match. Match these phyla to the descriptions. �a��b��c��d��e��ab��Phy.pdf
Match. Match these phyla to the descriptions. �a��b��c��d��e��ab��Phy.pdf
americandigitalshop
 
Mr. and Mrs. Ronaldo, first cousins from a Spanish family, welcomed t.pdf
 Mr. and Mrs. Ronaldo, first cousins from a Spanish family, welcomed t.pdf Mr. and Mrs. Ronaldo, first cousins from a Spanish family, welcomed t.pdf
Mr. and Mrs. Ronaldo, first cousins from a Spanish family, welcomed t.pdf
americandigitalshop
 
Match. Match the classes of Phylum Platyhelminthes to their descripti.pdf
 Match. Match the classes of Phylum Platyhelminthes to their descripti.pdf Match. Match the classes of Phylum Platyhelminthes to their descripti.pdf
Match. Match the classes of Phylum Platyhelminthes to their descripti.pdf
americandigitalshop
 
Most traits are quantitative traits. In your own words, what does tha.pdf
 Most traits are quantitative traits. In your own words, what does tha.pdf Most traits are quantitative traits. In your own words, what does tha.pdf
Most traits are quantitative traits. In your own words, what does tha.pdf
americandigitalshop
 

More from americandigitalshop (20)

1. Which of the following could pose a challenge in building partner.pdf
1. Which of the following could pose a challenge in building partner.pdf1. Which of the following could pose a challenge in building partner.pdf
1. Which of the following could pose a challenge in building partner.pdf
 
Mike is a graduating high school student. He received an outstanding .pdf
 Mike is a graduating high school student. He received an outstanding .pdf Mike is a graduating high school student. He received an outstanding .pdf
Mike is a graduating high school student. He received an outstanding .pdf
 
Mrs. Adams has experienced gradual but significant hearing loss and.pdf
 Mrs. Adams has experienced gradual but significant hearing loss and.pdf Mrs. Adams has experienced gradual but significant hearing loss and.pdf
Mrs. Adams has experienced gradual but significant hearing loss and.pdf
 
mrough (d) below Clok the icon 10 wew the uabie a. Find the probablit.pdf
 mrough (d) below Clok the icon 10 wew the uabie a. Find the probablit.pdf mrough (d) below Clok the icon 10 wew the uabie a. Find the probablit.pdf
mrough (d) below Clok the icon 10 wew the uabie a. Find the probablit.pdf
 
Michael has utility over going to Yoga (y) and going to a museum (m) .pdf
 Michael has utility over going to Yoga (y) and going to a museum (m) .pdf Michael has utility over going to Yoga (y) and going to a museum (m) .pdf
Michael has utility over going to Yoga (y) and going to a museum (m) .pdf
 
Meiosis and mitosis are both forms of cell division. However, the out.pdf
 Meiosis and mitosis are both forms of cell division. However, the out.pdf Meiosis and mitosis are both forms of cell division. However, the out.pdf
Meiosis and mitosis are both forms of cell division. However, the out.pdf
 
Metfi 120 (introduction to Weather and Climato) Orline - Unit 2 Revie.pdf
 Metfi 120 (introduction to Weather and Climato) Orline - Unit 2 Revie.pdf Metfi 120 (introduction to Weather and Climato) Orline - Unit 2 Revie.pdf
Metfi 120 (introduction to Weather and Climato) Orline - Unit 2 Revie.pdf
 
me Insert Draw Page Layout Formulas Data Review View Automate Tel.pdf
 me Insert Draw Page Layout Formulas Data Review View Automate  Tel.pdf me Insert Draw Page Layout Formulas Data Review View Automate  Tel.pdf
me Insert Draw Page Layout Formulas Data Review View Automate Tel.pdf
 
Match the terms with its best definition or description. Basic Eaming.pdf
 Match the terms with its best definition or description. Basic Eaming.pdf Match the terms with its best definition or description. Basic Eaming.pdf
Match the terms with its best definition or description. Basic Eaming.pdf
 
Match the words in the lenthand column to the appropriate blank in th.pdf
 Match the words in the lenthand column to the appropriate blank in th.pdf Match the words in the lenthand column to the appropriate blank in th.pdf
Match the words in the lenthand column to the appropriate blank in th.pdf
 
Match the vitamin or mineral with a good food source. There is ONLY o.pdf
 Match the vitamin or mineral with a good food source. There is ONLY o.pdf Match the vitamin or mineral with a good food source. There is ONLY o.pdf
Match the vitamin or mineral with a good food source. There is ONLY o.pdf
 
Mediate the movement of a single solute from one side of the membrane.pdf
 Mediate the movement of a single solute from one side of the membrane.pdf Mediate the movement of a single solute from one side of the membrane.pdf
Mediate the movement of a single solute from one side of the membrane.pdf
 
Max, a current lacrosse student-athlete, paid $10 to enter a March Ma.pdf
 Max, a current lacrosse student-athlete, paid $10 to enter a March Ma.pdf Max, a current lacrosse student-athlete, paid $10 to enter a March Ma.pdf
Max, a current lacrosse student-athlete, paid $10 to enter a March Ma.pdf
 
Math 10X Take Home Quiz 4 Sections 4.1 and 4.2 1. In the following pr.pdf
 Math 10X Take Home Quiz 4 Sections 4.1 and 4.2 1. In the following pr.pdf Math 10X Take Home Quiz 4 Sections 4.1 and 4.2 1. In the following pr.pdf
Math 10X Take Home Quiz 4 Sections 4.1 and 4.2 1. In the following pr.pdf
 
Matching- some answers may be used more than once agents that cause d.pdf
 Matching- some answers may be used more than once agents that cause d.pdf Matching- some answers may be used more than once agents that cause d.pdf
Matching- some answers may be used more than once agents that cause d.pdf
 
Matching Quiz Match the words in the first column to the best availab.pdf
 Matching Quiz Match the words in the first column to the best availab.pdf Matching Quiz Match the words in the first column to the best availab.pdf
Matching Quiz Match the words in the first column to the best availab.pdf
 
Match. Match these phyla to the descriptions. �a��b��c��d��e��ab��Phy.pdf
 Match. Match these phyla to the descriptions. �a��b��c��d��e��ab��Phy.pdf Match. Match these phyla to the descriptions. �a��b��c��d��e��ab��Phy.pdf
Match. Match these phyla to the descriptions. �a��b��c��d��e��ab��Phy.pdf
 
Mr. and Mrs. Ronaldo, first cousins from a Spanish family, welcomed t.pdf
 Mr. and Mrs. Ronaldo, first cousins from a Spanish family, welcomed t.pdf Mr. and Mrs. Ronaldo, first cousins from a Spanish family, welcomed t.pdf
Mr. and Mrs. Ronaldo, first cousins from a Spanish family, welcomed t.pdf
 
Match. Match the classes of Phylum Platyhelminthes to their descripti.pdf
 Match. Match the classes of Phylum Platyhelminthes to their descripti.pdf Match. Match the classes of Phylum Platyhelminthes to their descripti.pdf
Match. Match the classes of Phylum Platyhelminthes to their descripti.pdf
 
Most traits are quantitative traits. In your own words, what does tha.pdf
 Most traits are quantitative traits. In your own words, what does tha.pdf Most traits are quantitative traits. In your own words, what does tha.pdf
Most traits are quantitative traits. In your own words, what does tha.pdf
 

Recently uploaded

How to Handle the Separate Discount Account on Invoice in Odoo 17
How to Handle the Separate Discount Account on Invoice in Odoo 17How to Handle the Separate Discount Account on Invoice in Odoo 17
How to Handle the Separate Discount Account on Invoice in Odoo 17
Celine George
 
ENGLISH-7-CURRICULUM MAP- MATATAG CURRICULUM
ENGLISH-7-CURRICULUM MAP- MATATAG CURRICULUMENGLISH-7-CURRICULUM MAP- MATATAG CURRICULUM
ENGLISH-7-CURRICULUM MAP- MATATAG CURRICULUM
HappieMontevirgenCas
 
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptxKesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
artenzmartenkai
 
C# Interview Questions PDF By ScholarHat.pdf
C# Interview Questions PDF By ScholarHat.pdfC# Interview Questions PDF By ScholarHat.pdf
C# Interview Questions PDF By ScholarHat.pdf
Scholarhat
 
Webinar Innovative assessments for SOcial Emotional Skills
Webinar Innovative assessments for SOcial Emotional SkillsWebinar Innovative assessments for SOcial Emotional Skills
Webinar Innovative assessments for SOcial Emotional Skills
EduSkills OECD
 
C Interview Questions PDF By Scholarhat.pdf
C Interview Questions PDF By Scholarhat.pdfC Interview Questions PDF By Scholarhat.pdf
C Interview Questions PDF By Scholarhat.pdf
Scholarhat
 
How to Manage Large Scrollbar in Odoo 17 POS
How to Manage Large Scrollbar in Odoo 17 POSHow to Manage Large Scrollbar in Odoo 17 POS
How to Manage Large Scrollbar in Odoo 17 POS
Celine George
 
Odoo 17 Social Marketing - Lead Generation On Facebook
Odoo 17 Social Marketing - Lead Generation On FacebookOdoo 17 Social Marketing - Lead Generation On Facebook
Odoo 17 Social Marketing - Lead Generation On Facebook
Celine George
 
2024 KWL Back 2 School Summer Conference
2024 KWL Back 2 School Summer Conference2024 KWL Back 2 School Summer Conference
2024 KWL Back 2 School Summer Conference
KlettWorldLanguages
 
Bedok NEWater Photostory - COM322 Assessment (Story 2)
Bedok NEWater Photostory - COM322 Assessment (Story 2)Bedok NEWater Photostory - COM322 Assessment (Story 2)
Bedok NEWater Photostory - COM322 Assessment (Story 2)
Liyana Rozaini
 
How to Add a Filter in the Odoo 17 - Odoo 17 Slides
How to Add a Filter in the Odoo 17 - Odoo 17 SlidesHow to Add a Filter in the Odoo 17 - Odoo 17 Slides
How to Add a Filter in the Odoo 17 - Odoo 17 Slides
Celine George
 
What is Rescue Session in Odoo 17 POS - Odoo 17 Slides
What is Rescue Session in Odoo 17 POS - Odoo 17 SlidesWhat is Rescue Session in Odoo 17 POS - Odoo 17 Slides
What is Rescue Session in Odoo 17 POS - Odoo 17 Slides
Celine George
 
Individual Performance Commitment Review Form-Developmental Plan.docx
Individual Performance Commitment Review Form-Developmental Plan.docxIndividual Performance Commitment Review Form-Developmental Plan.docx
Individual Performance Commitment Review Form-Developmental Plan.docx
monicaaringo1
 
H. A. Roberts: VITAL FORCE - Dr. Niranjan Bapat
H. A. Roberts: VITAL FORCE - Dr. Niranjan BapatH. A. Roberts: VITAL FORCE - Dr. Niranjan Bapat
H. A. Roberts: VITAL FORCE - Dr. Niranjan Bapat
Niranjan Bapat
 
How to Empty a One2Many Field in Odoo 17
How to Empty a One2Many Field in Odoo 17How to Empty a One2Many Field in Odoo 17
How to Empty a One2Many Field in Odoo 17
Celine George
 
Configuring Single Sign-On (SSO) via Identity Management | MuleSoft Mysore Me...
Configuring Single Sign-On (SSO) via Identity Management | MuleSoft Mysore Me...Configuring Single Sign-On (SSO) via Identity Management | MuleSoft Mysore Me...
Configuring Single Sign-On (SSO) via Identity Management | MuleSoft Mysore Me...
MysoreMuleSoftMeetup
 
How to Create Sequence Numbers in Odoo 17
How to Create Sequence Numbers in Odoo 17How to Create Sequence Numbers in Odoo 17
How to Create Sequence Numbers in Odoo 17
Celine George
 
NC Public Schools Involved in NCDPI, Zipline Partnership
NC Public Schools Involved in NCDPI, Zipline PartnershipNC Public Schools Involved in NCDPI, Zipline Partnership
NC Public Schools Involved in NCDPI, Zipline Partnership
Mebane Rash
 
Imagination in Computer Science Research
Imagination in Computer Science ResearchImagination in Computer Science Research
Imagination in Computer Science Research
Abhik Roychoudhury
 
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES  Lecture_Notes_Unit4_chapter11_sequenceSEQUNCES  Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
Murugan Solaiyappan
 

Recently uploaded (20)

How to Handle the Separate Discount Account on Invoice in Odoo 17
How to Handle the Separate Discount Account on Invoice in Odoo 17How to Handle the Separate Discount Account on Invoice in Odoo 17
How to Handle the Separate Discount Account on Invoice in Odoo 17
 
ENGLISH-7-CURRICULUM MAP- MATATAG CURRICULUM
ENGLISH-7-CURRICULUM MAP- MATATAG CURRICULUMENGLISH-7-CURRICULUM MAP- MATATAG CURRICULUM
ENGLISH-7-CURRICULUM MAP- MATATAG CURRICULUM
 
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptxKesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
 
C# Interview Questions PDF By ScholarHat.pdf
C# Interview Questions PDF By ScholarHat.pdfC# Interview Questions PDF By ScholarHat.pdf
C# Interview Questions PDF By ScholarHat.pdf
 
Webinar Innovative assessments for SOcial Emotional Skills
Webinar Innovative assessments for SOcial Emotional SkillsWebinar Innovative assessments for SOcial Emotional Skills
Webinar Innovative assessments for SOcial Emotional Skills
 
C Interview Questions PDF By Scholarhat.pdf
C Interview Questions PDF By Scholarhat.pdfC Interview Questions PDF By Scholarhat.pdf
C Interview Questions PDF By Scholarhat.pdf
 
How to Manage Large Scrollbar in Odoo 17 POS
How to Manage Large Scrollbar in Odoo 17 POSHow to Manage Large Scrollbar in Odoo 17 POS
How to Manage Large Scrollbar in Odoo 17 POS
 
Odoo 17 Social Marketing - Lead Generation On Facebook
Odoo 17 Social Marketing - Lead Generation On FacebookOdoo 17 Social Marketing - Lead Generation On Facebook
Odoo 17 Social Marketing - Lead Generation On Facebook
 
2024 KWL Back 2 School Summer Conference
2024 KWL Back 2 School Summer Conference2024 KWL Back 2 School Summer Conference
2024 KWL Back 2 School Summer Conference
 
Bedok NEWater Photostory - COM322 Assessment (Story 2)
Bedok NEWater Photostory - COM322 Assessment (Story 2)Bedok NEWater Photostory - COM322 Assessment (Story 2)
Bedok NEWater Photostory - COM322 Assessment (Story 2)
 
How to Add a Filter in the Odoo 17 - Odoo 17 Slides
How to Add a Filter in the Odoo 17 - Odoo 17 SlidesHow to Add a Filter in the Odoo 17 - Odoo 17 Slides
How to Add a Filter in the Odoo 17 - Odoo 17 Slides
 
What is Rescue Session in Odoo 17 POS - Odoo 17 Slides
What is Rescue Session in Odoo 17 POS - Odoo 17 SlidesWhat is Rescue Session in Odoo 17 POS - Odoo 17 Slides
What is Rescue Session in Odoo 17 POS - Odoo 17 Slides
 
Individual Performance Commitment Review Form-Developmental Plan.docx
Individual Performance Commitment Review Form-Developmental Plan.docxIndividual Performance Commitment Review Form-Developmental Plan.docx
Individual Performance Commitment Review Form-Developmental Plan.docx
 
H. A. Roberts: VITAL FORCE - Dr. Niranjan Bapat
H. A. Roberts: VITAL FORCE - Dr. Niranjan BapatH. A. Roberts: VITAL FORCE - Dr. Niranjan Bapat
H. A. Roberts: VITAL FORCE - Dr. Niranjan Bapat
 
How to Empty a One2Many Field in Odoo 17
How to Empty a One2Many Field in Odoo 17How to Empty a One2Many Field in Odoo 17
How to Empty a One2Many Field in Odoo 17
 
Configuring Single Sign-On (SSO) via Identity Management | MuleSoft Mysore Me...
Configuring Single Sign-On (SSO) via Identity Management | MuleSoft Mysore Me...Configuring Single Sign-On (SSO) via Identity Management | MuleSoft Mysore Me...
Configuring Single Sign-On (SSO) via Identity Management | MuleSoft Mysore Me...
 
How to Create Sequence Numbers in Odoo 17
How to Create Sequence Numbers in Odoo 17How to Create Sequence Numbers in Odoo 17
How to Create Sequence Numbers in Odoo 17
 
NC Public Schools Involved in NCDPI, Zipline Partnership
NC Public Schools Involved in NCDPI, Zipline PartnershipNC Public Schools Involved in NCDPI, Zipline Partnership
NC Public Schools Involved in NCDPI, Zipline Partnership
 
Imagination in Computer Science Research
Imagination in Computer Science ResearchImagination in Computer Science Research
Imagination in Computer Science Research
 
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES  Lecture_Notes_Unit4_chapter11_sequenceSEQUNCES  Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
 

Mr. Qualify is applying for a $102,200GPM loan for 25 years at an int.pdf

  • 1. Mr. Qualify is applying for a $102,200GPM loan for 25 years at an interest rate of 9 percent. Payments would be designed so as to graduate at the rate of 7.6 percent for three years beginning with payments in the second year. Required: a. What would the monthly payments be for Mr. Qualify in each of the first five years of the loan? b. What would the loan balance be on the GPM at the end of year 3 ? c. If the lender charged 4 points at origination, what would be the effective interest rate on this loan after five years? Complete this question by entering your answers in the tabs below. What would the monthly payments be for Mr. Qualify in each of the first five years of the loan? (Do not round intermediate calculations, Round your finat answers to 2 decimal places.)