Financing Equation Basics – Starter Exam Commercial Financing Exam Mode: Exam Passing Score: 80% Questions: 5 Question 1 of 5 Student Information Student Name Student Email 1 2 3 4 5 Question 1 Solve For: PMT Solve for PMT – Starter Question A borrower is requesting a $250,000 loan at 8.5% annual interest for 25 years. Future value is $0. Calculate the monthly payment. VariableValuePV250000PMTUnknownI8.5N25 yearsFV0 Your Answer Question 2 Solve For: PV Solve for PV – Starter Question A lender approves a monthly payment of $2,014.44 at 8.5% annual interest for 25 years with a future value of $0. What loan amount does this payment support? VariableValuePVUnknownPMT2014.44I8.5N25 yearsFV0 Your Answer Question 3 Solve For: I Solve for I – Starter Question A borrower receives a $250,000 loan with a monthly payment of $2,014.44 for 25 years. Future value is $0. Estimate the annual interest rate. VariableValuePV250000PMT2014.44IUnknownN25 yearsFV0 Your Answer Question 4 Solve For: N Solve for N – Starter Question A borrower has a $250,000 loan at 8.5% annual interest with a monthly payment of $2,014.44 and future value of $0. Estimate the number of monthly payments required to amortize the loan. VariableValuePV250000PMT2014.44I8.5NUnknownFV0 Your Answer Question 5 Solve For: FV Solve for FV – Starter Question A $250,000 loan is paid at $2,014.44 per month for 10 years at 8.5% annual interest. What is the estimated remaining balance / future value after 10 years? VariableValuePV250000PMT2014.44I8.5N10 yearsFVUnknown Your Answer Previous Question Next Question Submit Final Test Your progress is saved in this browser until you submit or clear it.
