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Tag Archives: Puzzle #3
Puzzle #3: A Better Answer
Puzzle #3 asked for the weighted average life (“WAL”) of the principal payments for a 30year mortgage that is cut short by a balloon payment at 15 years. The following information was provided: $100,000 Principal; 5% Interest Rate; $536.82 Level … Continue reading
Posted in Fun, Math, Puzzles
Tagged Average Life Formula, Cool Graphs, Finance Math Puzzle, Financial Math, Math, Puzzle, Puzzle #3, Weighted Average Life
5 Comments
Puzzle #3: Mortgage with Balloon
Puzzle #1 posed the question: given a $100,000 mortgage at 5% with monthly payments of $536.82 for 30 years, what is the average life of the principal payments? The puzzle was to be solved with just a few simple calculations. … Continue reading
Posted in Fun, Math, Puzzles
Tagged Average Life Formula, Bond Math Puzzle, Finance Math Puzzle, Financial Math, Math, Puzzle, Puzzle #3, Weighted Average Life
22 Comments