SlideShare a Scribd company logo
1 of 1
Download to read offline
Mr. Qualify is applying for a $104,000 GPM loan for 25 years at an interest rate of 9 percent.
Payments would be designed so as to graduate at the rate of 7.5 percent for three years beginning
with payments in the second year Required: Q. 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 final 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.pdfamericandigitalshop
 
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 .pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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) .pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 
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.pdfamericandigitalshop
 

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

Barangay Council for the Protection of Children (BCPC) Orientation.pptx
Barangay Council for the Protection of Children (BCPC) Orientation.pptxBarangay Council for the Protection of Children (BCPC) Orientation.pptx
Barangay Council for the Protection of Children (BCPC) Orientation.pptxCarlos105
 
ICS2208 Lecture6 Notes for SL spaces.pdf
ICS2208 Lecture6 Notes for SL spaces.pdfICS2208 Lecture6 Notes for SL spaces.pdf
ICS2208 Lecture6 Notes for SL spaces.pdfVanessa Camilleri
 
ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptx
ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptxECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptx
ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptxiammrhaywood
 
Influencing policy (training slides from Fast Track Impact)
Influencing policy (training slides from Fast Track Impact)Influencing policy (training slides from Fast Track Impact)
Influencing policy (training slides from Fast Track Impact)Mark Reed
 
INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptx
INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptxINTRODUCTION TO CATHOLIC CHRISTOLOGY.pptx
INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptxHumphrey A Beña
 
How to Add Barcode on PDF Report in Odoo 17
How to Add Barcode on PDF Report in Odoo 17How to Add Barcode on PDF Report in Odoo 17
How to Add Barcode on PDF Report in Odoo 17Celine George
 
ENG 5 Q4 WEEk 1 DAY 1 Restate sentences heard in one’s own words. Use appropr...
ENG 5 Q4 WEEk 1 DAY 1 Restate sentences heard in one’s own words. Use appropr...ENG 5 Q4 WEEk 1 DAY 1 Restate sentences heard in one’s own words. Use appropr...
ENG 5 Q4 WEEk 1 DAY 1 Restate sentences heard in one’s own words. Use appropr...JojoEDelaCruz
 
4.16.24 21st Century Movements for Black Lives.pptx
4.16.24 21st Century Movements for Black Lives.pptx4.16.24 21st Century Movements for Black Lives.pptx
4.16.24 21st Century Movements for Black Lives.pptxmary850239
 
How to do quick user assign in kanban in Odoo 17 ERP
How to do quick user assign in kanban in Odoo 17 ERPHow to do quick user assign in kanban in Odoo 17 ERP
How to do quick user assign in kanban in Odoo 17 ERPCeline George
 
ANG SEKTOR NG agrikultura.pptx QUARTER 4
ANG SEKTOR NG agrikultura.pptx QUARTER 4ANG SEKTOR NG agrikultura.pptx QUARTER 4
ANG SEKTOR NG agrikultura.pptx QUARTER 4MiaBumagat1
 
Active Learning Strategies (in short ALS).pdf
Active Learning Strategies (in short ALS).pdfActive Learning Strategies (in short ALS).pdf
Active Learning Strategies (in short ALS).pdfPatidar M
 
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdf
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdfGrade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdf
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdfJemuel Francisco
 
AUDIENCE THEORY -CULTIVATION THEORY - GERBNER.pptx
AUDIENCE THEORY -CULTIVATION THEORY -  GERBNER.pptxAUDIENCE THEORY -CULTIVATION THEORY -  GERBNER.pptx
AUDIENCE THEORY -CULTIVATION THEORY - GERBNER.pptxiammrhaywood
 
Concurrency Control in Database Management system
Concurrency Control in Database Management systemConcurrency Control in Database Management system
Concurrency Control in Database Management systemChristalin Nelson
 
Inclusivity Essentials_ Creating Accessible Websites for Nonprofits .pdf
Inclusivity Essentials_ Creating Accessible Websites for Nonprofits .pdfInclusivity Essentials_ Creating Accessible Websites for Nonprofits .pdf
Inclusivity Essentials_ Creating Accessible Websites for Nonprofits .pdfTechSoup
 
Integumentary System SMP B. Pharm Sem I.ppt
Integumentary System SMP B. Pharm Sem I.pptIntegumentary System SMP B. Pharm Sem I.ppt
Integumentary System SMP B. Pharm Sem I.pptshraddhaparab530
 
Keynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-designKeynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-designMIPLM
 
Earth Day Presentation wow hello nice great
Earth Day Presentation wow hello nice greatEarth Day Presentation wow hello nice great
Earth Day Presentation wow hello nice greatYousafMalik24
 

Recently uploaded (20)

Barangay Council for the Protection of Children (BCPC) Orientation.pptx
Barangay Council for the Protection of Children (BCPC) Orientation.pptxBarangay Council for the Protection of Children (BCPC) Orientation.pptx
Barangay Council for the Protection of Children (BCPC) Orientation.pptx
 
ICS2208 Lecture6 Notes for SL spaces.pdf
ICS2208 Lecture6 Notes for SL spaces.pdfICS2208 Lecture6 Notes for SL spaces.pdf
ICS2208 Lecture6 Notes for SL spaces.pdf
 
ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptx
ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptxECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptx
ECONOMIC CONTEXT - PAPER 1 Q3: NEWSPAPERS.pptx
 
Influencing policy (training slides from Fast Track Impact)
Influencing policy (training slides from Fast Track Impact)Influencing policy (training slides from Fast Track Impact)
Influencing policy (training slides from Fast Track Impact)
 
INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptx
INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptxINTRODUCTION TO CATHOLIC CHRISTOLOGY.pptx
INTRODUCTION TO CATHOLIC CHRISTOLOGY.pptx
 
How to Add Barcode on PDF Report in Odoo 17
How to Add Barcode on PDF Report in Odoo 17How to Add Barcode on PDF Report in Odoo 17
How to Add Barcode on PDF Report in Odoo 17
 
ENG 5 Q4 WEEk 1 DAY 1 Restate sentences heard in one’s own words. Use appropr...
ENG 5 Q4 WEEk 1 DAY 1 Restate sentences heard in one’s own words. Use appropr...ENG 5 Q4 WEEk 1 DAY 1 Restate sentences heard in one’s own words. Use appropr...
ENG 5 Q4 WEEk 1 DAY 1 Restate sentences heard in one’s own words. Use appropr...
 
Raw materials used in Herbal Cosmetics.pptx
Raw materials used in Herbal Cosmetics.pptxRaw materials used in Herbal Cosmetics.pptx
Raw materials used in Herbal Cosmetics.pptx
 
4.16.24 21st Century Movements for Black Lives.pptx
4.16.24 21st Century Movements for Black Lives.pptx4.16.24 21st Century Movements for Black Lives.pptx
4.16.24 21st Century Movements for Black Lives.pptx
 
How to do quick user assign in kanban in Odoo 17 ERP
How to do quick user assign in kanban in Odoo 17 ERPHow to do quick user assign in kanban in Odoo 17 ERP
How to do quick user assign in kanban in Odoo 17 ERP
 
ANG SEKTOR NG agrikultura.pptx QUARTER 4
ANG SEKTOR NG agrikultura.pptx QUARTER 4ANG SEKTOR NG agrikultura.pptx QUARTER 4
ANG SEKTOR NG agrikultura.pptx QUARTER 4
 
Active Learning Strategies (in short ALS).pdf
Active Learning Strategies (in short ALS).pdfActive Learning Strategies (in short ALS).pdf
Active Learning Strategies (in short ALS).pdf
 
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdf
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdfGrade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdf
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdf
 
FINALS_OF_LEFT_ON_C'N_EL_DORADO_2024.pptx
FINALS_OF_LEFT_ON_C'N_EL_DORADO_2024.pptxFINALS_OF_LEFT_ON_C'N_EL_DORADO_2024.pptx
FINALS_OF_LEFT_ON_C'N_EL_DORADO_2024.pptx
 
AUDIENCE THEORY -CULTIVATION THEORY - GERBNER.pptx
AUDIENCE THEORY -CULTIVATION THEORY -  GERBNER.pptxAUDIENCE THEORY -CULTIVATION THEORY -  GERBNER.pptx
AUDIENCE THEORY -CULTIVATION THEORY - GERBNER.pptx
 
Concurrency Control in Database Management system
Concurrency Control in Database Management systemConcurrency Control in Database Management system
Concurrency Control in Database Management system
 
Inclusivity Essentials_ Creating Accessible Websites for Nonprofits .pdf
Inclusivity Essentials_ Creating Accessible Websites for Nonprofits .pdfInclusivity Essentials_ Creating Accessible Websites for Nonprofits .pdf
Inclusivity Essentials_ Creating Accessible Websites for Nonprofits .pdf
 
Integumentary System SMP B. Pharm Sem I.ppt
Integumentary System SMP B. Pharm Sem I.pptIntegumentary System SMP B. Pharm Sem I.ppt
Integumentary System SMP B. Pharm Sem I.ppt
 
Keynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-designKeynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-design
 
Earth Day Presentation wow hello nice great
Earth Day Presentation wow hello nice greatEarth Day Presentation wow hello nice great
Earth Day Presentation wow hello nice great
 

Mr. Qualify is applying for a $104,000 GPM loan for 25 years at an in.pdf

  • 1. Mr. Qualify is applying for a $104,000 GPM loan for 25 years at an interest rate of 9 percent. Payments would be designed so as to graduate at the rate of 7.5 percent for three years beginning with payments in the second year Required: Q. 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 final answers to 2 decimal places.)