Tag Archives: Puzzle #3

Puzzle #3: A Better Answer

Posted on June 2, 2011 by Win Smith

Puzzle #3 asked for the weighted average life (“WAL”) of the principal payments for a 30-year 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 →

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Puzzle #3: Mortgage with Balloon

Posted on April 15, 2011 by Win Smith

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 →

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