What must be the end-of-month mortgage payment amount, Financial Management

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What must be the end-of-month mortgage payment amount

1. What must be the end-of-month mortgage payment amount required to repay a loan of $52,000 in 25 years? Assume k=0.14 (14%) with monthly compounding.

a. 622

b. 624

c. 626

d. 628

2. What is the payback period for the following set of cash flows?

YearCash Flow

0–$5,400

1- 1,475

2- 1,675

3 -2,075

4 -1,575

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