SOLUTION: PLEASE HELP ME WITH THIS LAST SET OF PROBLEMS!!. I need to turn this in by 5 pm today. If possible can you give me the example with the steps to do it in Excel? Mortgages (Hint

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Question 621973: PLEASE HELP ME WITH THIS LAST SET OF PROBLEMS!!. I need to turn this in by 5 pm today. If possible can you give me the example with the steps to do it in Excel?
Mortgages (Hint: P/Y=12, House cost = Loan Value/0.9).
What is the house cost on a 10 percent down mortgage with payments of
a. $4,369.66 per month for 30 years at 10 percent interest?
b. $1,626.83 per month for 15 years at 11 percent interest?
c. $3,724.21 per month for 30 years at 8 percent interest?
d. $4,469.19 per month for 15 years at 14 percent interest?
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 

Hi,

Excel columns A thru H, based on A = P(1 + r)^t	  or A/(1+r)^t = P			

		B*12	C*A		                E^B	  D/F	        G/.9

4369.66	30	360	$1,573,077.60	1.10	17.4494	$90,150.80	$100,167.56

1626.83	15	180	$292,829.40	1.10	4.1772	$70,101.03	$77,890.03

3724.21	30	360	$1,340,715.60	1.08	10.0627	$133,236.74	$148,040.82

4469.19	15	180	$804,454.20	1.14	7.1379	$112,701.20	$125,223.56

 

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