Question: Please solve it on excel and show excel formulla need in 50 min 15 0 3 1 7 years ago a fixed rate mortgage for

Please solve it on excel and show excel formulla need in 50 min

Please solve it on excel and show excel formulla need in 50

15 0 3 1 7 years ago a fixed rate mortgage for $ 100,000 was issued which would fully amortize monthly in 20 years. The contract rate was 8%. Refinancing costs $. 3,000 Now tha rates have fallen to 6%. What is the monthly payment? 1a 1 1 What is the loan balance? 2 2 1b 0 1 1c 2 3 1d 4 5 What is the Break-e en rate for refinahcing? BER 1 Is refinancing a good idea? 15 0 3 1 7 years ago a fixed rate mortgage for $ 100,000 was issued which would fully amortize monthly in 20 years. The contract rate was 8%. Refinancing costs $. 3,000 Now tha rates have fallen to 6%. What is the monthly payment? 1a 1 1 What is the loan balance? 2 2 1b 0 1 1c 2 3 1d 4 5 What is the Break-e en rate for refinahcing? BER 1 Is refinancing a good idea

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