You are buying your first house for $220,000, and are paying $30,000 as a down p

Question

You are buying your first house for $220,000, and are paying $30,000 as a down payment. You have arranged to finance the remaining $190,000 30-year mortgage with a 7% nominal interest rate and monthly payments. What are the equal monthly payments you must make?<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Problem 2(3 points)

      Walker Industries has a bond outstanding with 12 years to maturity, a 9% coupon paid semiannually, and a $1,000 par value. The bond has a 7% nominal yield to maturity, but it can be called in 3 years at a price of $1,045. What is the bond

Explanation / Answer

1. $1,264

2. 4.62 %

3.

4. 16.00%

5. 8.068%

6. 14.01 %

7.$26,553.97

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