Assuming a 30-year loan with an APR of 3.75% and monthly compounding and payment, please complete...
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Assuming a 30-year loan with an APR of 3.75% and monthly compounding and payment, please complete in Excel an amortization schedule and answer/supplement the following. Post your saved Excel file to Blackboard by 11:00 Friday 6/5. What is the purchase price of your new home in the Nashville area? Please show a picture and list price. Please copy/paste picture and list price on your Excel worksheet. If you were to finance 80% of the price (assuming VA/FHA qualifications), how much would your loan be? What would be your annuitized monthly PMT (again assuming monthly compounding)? (1.5 Points) How much total interest and principal would you pay over the 1st 24 payments (2 years)...of the loan representing 80% of the purchase price? Please print a copy of the amortization schedule showing the 1st 24 periods only. (4 Points) If you were to pay an extra $300 per month in principal toward the loan (ending balance), what would your full amortization schedule show? Please again (on a separate Excel worksheet within the same file) run the schedule with this adjustment (again assuming you are financing 80% of the purchase price). (2 Points) Online Resource: http://www.realtracs.com/PropertySearchMap.aspx https://www.zillow.com/ Assuming a 30-year loan with an APR of 3.75% and monthly compounding and payment, please complete in Excel an amortization schedule and answer/supplement the following. Post your saved Excel file to Blackboard by 11:00 Friday 6/5. What is the purchase price of your new home in the Nashville area? Please show a picture and list price. Please copy/paste picture and list price on your Excel worksheet. If you were to finance 80% of the price (assuming VA/FHA qualifications), how much would your loan be? What would be your annuitized monthly PMT (again assuming monthly compounding)? (1.5 Points) How much total interest and principal would you pay over the 1st 24 payments (2 years)...of the loan representing 80% of the purchase price? Please print a copy of the amortization schedule showing the 1st 24 periods only. (4 Points) If you were to pay an extra $300 per month in principal toward the loan (ending balance), what would your full amortization schedule show? Please again (on a separate Excel worksheet within the same file) run the schedule with this adjustment (again assuming you are financing 80% of the purchase price). (2 Points) Online Resource: http://www.realtracs.com/PropertySearchMap.aspx https://www.zillow.com/
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