Question: , please hide all but the first 4 months and the last 4 months of the table. You are thinking of purchasing a house that
please hide all but the first months and the last months of the table.
You are thinking of purchasing a house that costs $ You have $ in cash for a down payment, but you need to borrow the rest of the purchase price. Assume there are no closing costs. The bank is offering a year mortgage that requires monthly payments and has an annual interest rate of What will your monthly payments be if you sign up for this mortgage? Draw the amortization schedule on a monthly basis using Excel. Calculate the total amount of interest paid throughout the life of the loan. Create a graph depicting the changes in the portions of interest and principal for each monthly payment throughout the life of the loan.
Suppose you have the option to take out a year mortgage with an annual interest rate of What would the monthly payment be for this mortgage? Draw a new amortization schedule in a separate Excel sheet. Calculate the total amount of interest paid throughout the life of the loan. How much would you save if
Please do this in excel and either explain the process or show steps I am new to excel! Thank you!
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