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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