John house has taken a 250000 mortgage on his house at an, Financial Management

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John house has taken a 250000 mortgage on his house at an

1. John House has taken a $250,000 mortgage on his house at an interest rate of 6% per year. If the mortgage calls for twenty equal annual payments, what is the amount of each payment?

2. John House has taken a 20-year, $250,000 mortgage on his house at an interest rate of 6% per year. What is the value of the mortgage after the payment of the fifth annual installment?

3. What is the present value of $5000 per year annuity at a discount rate of 15% for 5 years?

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