1. The owner of an apartment building obtains a $6,000,000 30-year, 7.5% mortgage. Ten years later the prevailing rate on properties similar to his is 6%. What is the maximum penalty the owner would be willing to pay in order to refinance?
2. Determine the best way to deter the manipulation of company shares before and during an IPO.
3. What is the month 120 interest portion of the monthly payment on a $332,000 30- year mortgage with a contract rate of 5.5%.