Business, 13.03.2021 01:00 TayJoker966
A borrower is interested in comparing the monthly payments on two otherwise equivalent 30 year FRMs. Both loans are for $100,000 and have a 7% interest rate. Loan 1 is fully amortizing, where as Loan 2 has negative amortization with a $120,000 balloon payment due at the end of the life of the loan. How much higher is the monthly payment on loan 1 versus loan 2
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A borrower is interested in comparing the monthly payments on two otherwise equivalent 30 year FRMs....
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