Mortgages.(Hint: P/Y12, House Loan Amount/ (1 Down Payment %) What is the house cost on a 10 percent down mortgage with payments of
a. $3,594.47 per month for 30 years at 4% interest?
b. $8,105.55 per month for 15 years at 9% interest?
c. $6,604.88 per month for 30 years at 15% interest?
d. $9,128.23 per month for 15 years at 11% interest?
File name: 12.-Mortgages.Hint_.xls File type: application/vnd.ms-excel Price: $5
a. $3,594.47 per month for 30 years at 4% interest?
b. $8,105.55 per month for 15 years at 9% interest?
c. $6,604.88 per month for 30 years at 15% interest?
d. $9,128.23 per month for 15 years at 11% interest?
SOLUTION PREVIEW [Excel sheet]
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a.
$3,594.47 per month for 30 years at 4% interest?
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Rate = 4%/12
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0.33%
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Nper = 30 x 12=
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360
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PMT
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-3,594.47
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PV =?
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