Question

I want you to find a home that you would like to buy.

Use Google, Zillow, Realtor.com, or another real estate site to find a home. Make sure to include the link for the home in your discussion post.

Next, prepare an Amortization Schedule for this home. I expect the amortization schedule to be completed in Excel with all work shown in Excel. Thus, I should be able to click on any cell and see your work embedded in that cell. If this is not done, it will be an automatic 50% deduction.

Assume you pay the full asking price and make a 20%
down-payment. **Do not use an online amortization
schedule**. I will only give you credit if you create your
own amortization table. Use page 225 of your textbook as a
guide.

Note the textbook amortization schedule is using an annual payment. Please complete your schedule for both 180 months (15 years) and 360 months (30 years).

Find the appropriate interest rate for your area at Bankrate. Remember to divide your interest by 12 to get a monthly rate.

After completing the amortization schedule, attach your amortization sheet to a new post and discuss what you found. How much interest will you pay over the life of each loan? You can determine this by summing all the payments and subtracting the amount borrowed.

Answer #1

I want you to find a home that you would like to buy.
Use Google, Zillow, Realtor.com, or another real estate site to
find a home. Make sure to include the link for the home in your
discussion post.
Next, prepare an Amortization Schedule for this home. I expect
the amortization schedule to be completed in Excel with all work
shown in Excel. Thus, I should be able to click on any cell and see
your work embedded in that...

You want to buy your dream house. You currently have $15,000
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of the loan amount for closing costs. Assume the cost of the house
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year. How long will it be before you have enough money for the down
payment and closing costs?
Given your current credit, you secure a 15-year fixed rate
mortgage...

3) Find a vacation home that you would like to own on
the internet. a) Paste a picture or screen shot in the box below
using the "mountain" button to add the picture. The picture should
include the following:
i) Picture of the vacation home.
ii) Sale price of the vacation home.
Edit
Insert
Formats
p
b) Sale price of the vacation home = $
DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED
INCORRECT
c) If the loan agency...

You plan to take a 30-year mortgage in the amount of $800,000 to
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(fixed total payment) to be made at the end of each month for
thirty years. How much is each installment payment? How much is the
total principal repayment after four months? How much is the total
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You want to buy a new work truck for $42,000. You will make a
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year term. Use 9% annual nominal interest compounded monthly for
your loan.
Please show work either either through excel or written for
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formula in your answer and explain step-by-step calculation to
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Mandy would like to buy an apartment and needs a mortgage for
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What is the amount of her monthly payment?
Use a spreadsheet program like Microsoft Excel. Start with a
blank worksheet.
In your spreadsheet, create a TVM DataFrame
TVM DataFrame
c
n
i
PV
PMT
FV
1
From the problem, fill-in the values for Mandy's mortgage
annuity into your spreadsheet. Place a question mark in...

You want to buy a $203,000 home. You plan to pay 15% as a down
payment, and take out a 30 year loan at 4.3% annual interest
compounded monthly for the rest.
a) How much is the loan amount going to be?
$
b) What will your monthly payments be?
$
c) How much total interest do you pay?
$
d) Suppose you want to pay off the loan in 15 years rather than 30.
What will your monthly payment...

You want to buy a $209,000 home. You plan to pay 5% as a down
payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to be?
b) What will your monthly payments be if the interest rate is
6%?
c) What will your monthly payments be if the interest rate is
7%?

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payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to?
b) What will your monthly payments be if the interest rate is
6%?
c) What will your monthly payments be if the interest rate is
7%?

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