Variables: House value: $$$ $520,700\mathrm{.}00$ Interest rate: $4\mathrm{.}25\%$ Down payment $(\%$ of house value$)$: $20\%$ Number of years: $30$ Property tax rate: $1\mathrm{.}25\%$ Annual homeowner insurance premium: $$$ $1,410\mathrm{.}00$ Maintenance cost rate $(\%$ of house value$)$: $1\%$ Monthly Cost of Home Ownership Monthly mortgage payment: Monthly property tax: Monthly homeower insurance premium: Monthly maintenance costs: Total:

this a deterministic or stochastic model?

Which of the following is NOT an input of the spreadsheet model? multiple choice Interest rate Monthly mortgage payment Number of years of the loan Annual maintenance cost rate

What is the total monthly cost of homeownership based on the assumptions provided in the spreadsheet? Assume that payments are made at the beginning of each month. Note: Round your answer to $2$ decimal places.

How much does the monthly total of home ownership increase if the owner decides to get a $15-$year mortgage instead of a $30-$year mortgage? Note: Round your answer to $2$ decimal places.