Homework Assignments

The following homework assignments were designed to help you familiarize yourself with the powerful features of our software.  These assignments will walk you through common scenarios and will help you gain a greater understanding of how to use your 6.5 software in your Real Estate business.

Amortization Knowledge

1. To begin this assignment, open your Amortization module.
2. Enter the following loan information:

   Loan Amount (PV)	$250,000		This is the amount borrowed
   Interest Rate	7%		This is the interest rate
   Term (Months)	360		30 year loan in months
   P and I Payment	$1,663.26		This is the payment (without Taxes and Insurance).  This is automatically calculated for you.

3. Click on the Amortize Button.
4. Click on Print/Save Report to generate the Amortization Report.  This will be used to answer the questions below.

Questions - View the Answers

Before answering the questions below.  Try to estimate what the answers are and then go look up the answer.  To check your answer click on 'View the Answers' above.

1. What is the Principal Balance in Year 5 (Payment #60)?
2. When are the Principal and Interest payment roughly equal?
3. What is the total amount of interest to be paid on this loan?
4. What is the total Principal and Interest paid on this loan?