Author: Anonymous

Assume that a piece of land is currently valued at $[a]. If this piece of land is expected to appreciate at an annual rate of [c]% per year for the next [b] years, how much will the land be worth [b] years from now?

Upon starting his first job after graduation, Jon has completed the necessary paperwork to set up direct deposit of his paycheck into his savings account. After taxes, medical benefits, and retirement account contributions have been taken out of John’s gross salary, he is left with a direct deposit of $[a] at the end of each month. If John started with no other savings in his account, how much will John have in his savings account at the end of [b] months if he is able to earn an annual interest rate of [c]%, with interest being compounded monthly?

Assume that an individual puts $[a] into a savings account that pays [b]% interest, with interest being compounded monthly. The individual plans to withdraw the balance in [c] years to buy a car. If he does not make any further deposits over this period, how much will the individual be able to put towards his purchase?

Given the following information about a fully amortizing loan, calculate the lender’s yield. Loan amount: $250,000.00 Term: 25 years Interest rate: 6.75% compounded monthly Monthly Payment: $-1,727.28 Discount points: 2.75

Given the following information about a fully amortizing loan, calculate the lender’s yield. Loan amount: $290,000.00 Term: 29 years Interest rate: 7.75% compounded monthly Monthly Payment: $-2,095.99 Discount points: 3.75

Given the following information about a fully amortizing loan, calculate the lender’s yield. Loan amount: $150,000.00 Term: 15 years Interest rate: 4.25% compounded monthly Monthly Payment: $-1,128.42 Discount points: 3.25

Given the following information about a fully amortizing loan, calculate the lender’s yield. Loan amount: $300,000.00 Term: 30 years Interest rate: 8.00% compounded monthly Monthly Payment: $-2,201.29 Discount points: 4

Given the following information on fixed-payment fully-amortizing loan, determine the remaining balance that the borrower has at the end of [d] years. Loan term:  [a] Monthly Payment:  [b] Interest Rate:  [c]% Balloon payment/remaining mortgage balance (RMB) in [d] years

Given the following information about a fully amortizing loan, calculate the lender’s yield. Loan amount: $240,000.00 Term: 24 years Interest rate: 6.50% compounded monthly Monthly Payment: $-1,647.70 Discount points: 2.5

Given the following information about a fully amortizing loan, calculate the effective borrowing cost. Loan Amount: $220,000.00 Term: 22 years Interest Rate: 6.00% compounded monthly Monthly Payment: $-1,502.76 Discount Points: 2 Other Closing Expenses:  $2,000.00