Using a Spreadsheet to Calculate Mortgage Payments: What is the monthly payment on a $150,000, 30-year...

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Using a Spreadsheet to Calculate Mortgage Payments: What is the monthly payment on a $150,000, 30-year mortgage if the mortgage rate is 5.75 percent? 6.25 percent? 7.5 percent? 9 percent? Present Value Periods $150,000 15 x 12 150,000 15 x 12 150,000 150,000 15 x 12 15 x 12 Interest Rate → The Payment Will Be 5.75%/12 6.25%/12 7.50%/12 9.00%/12 $1,245.62 1,286.13 1,390.52 1,521.40 Using a Spreadsheet to Calculate Mortgage Payments: What is the monthly payment on a $150,000, 30-year mortgage if the mortgage rate is 5.75 percent? 6.25 percent? 7.5 percent? 9 percent? Present Value Periods $150,000 15 x 12 150,000 15 x 12 150,000 150,000 15 x 12 15 x 12 Interest Rate → The Payment Will Be 5.75%/12 6.25%/12 7.50%/12 9.00%/12 $1,245.62 1,286.13 1,390.52 1,521.40

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Monthly installment payment amount for mortgage is given by M M P r 1 1r ... View the full answer