What will be your monthly payment to pay back the loan

Assignment Help Finance Basics

Reference no: EM131316332

Excel Assignment

You are going to purchase a new house valued at $250,000 by making the down payment of 20% and borrowing the rest as a 30-year fixed rate mortgage of 5.25%.

Solve the problem by creating an Excel spreadsheet like the one presented in the video.

1-What will be your monthly payment to pay back the loan? What is the total interest that you will pay over the life of the loan?

2-How much total interest you would pay on this loan if you can prepay $30,000 on the first month of the second year?

Reference no: EM131316332

Questions Cloud

Review the healthy people 2020 objectives : Review the Healthy People 2020 objectives for the older adult. Of the objectives listed for the older adult, which do you feel is most important? Be sure to include examples and references to support your response.

Which would be the best strategy to improve this score : Read the Introductory Incident: The Leapfrog Group. Leapfrog scores health organizations based on the National Quality Forum's Safe practices for Better Healthcare: A Consensus Report. Leapfrog announced that the scores for Summer 2016 was publishe..

What best describes the facts behind the headline : A Wall Street Journal headline reads: "Cigar Shortage Draws New Brands into Market". The shortage resulted from a renewed interest in smoking cigars. What best describes the facts behind the headline?

Find the inverse system transfer function : Find the inverse system transfer function to correct the delay distortion and show that the inverse system can be realized by a feedback system. The inverse system should be causal to be realizable.

What will be your monthly payment to pay back the loan : What will be your monthly payment to pay back the loan? What is the total interest that you will pay over the life of the loan and how much total interest you would pay on this loan if you can prepay $30,000 on the first month of the second year?

Formulate the corresponding demand allocation problem : Extend the CPL model to the case of demand varying over the planning horizon. Assume that, once opened, a facility cannot be closed.

Find the transfer function relating the output : Find the zero-state response y(t) of the network in Fig. P4.4-1 if the input voltage x(t) = te-tu(t). Find the transfer function relating the output y(t) to the input x(t). From the transfer function, write the differential equation relating y(t) t..

Suggest a suitable methodology for testing : Identify the hypothesis - Suggest a suitable methodology for testing the hypothesis and suggest an organization for the paper, with headings and specific suggestions for the content of each section.

Evaluating the health information technology : In this Discussion, determine which evaluation model would be most effective for evaluating the health information technology described in one of the scenarios below. Your Instructor will assign a specific scenario

User Account

All Pages