The following facts describe a fixed rate, monthly payment,…

The following facts describe a fixed rate, monthly payment, mortgage loan with negative amortization: original loan amount, $600,000; interest rate on the loan, 7.00% (annual); “pay rate” on the loan, 4.00% (annual). A 30-year amortization period will be used to determine the monthly payment. What is the balance of this loan at the end of the second month?

Jane owns a home encumbered by a mortgage. She doesn’t escro…

Jane owns a home encumbered by a mortgage. She doesn’t escrow for property taxes or insurance through the lender, so her payments to the lender are principal and interest only. Jane let the hazard insurance policy on her home lapse (expire). According to the lecture, this is

Contrast the colonies of Massachusetts and Virginia in the s…

Contrast the colonies of Massachusetts and Virginia in the seventeenth century. Include in your answer a discussion of reasons for settlement, their respective social organizations, and their economy and religion. What individuals were notable in the early years of each?