What is the maximum mortgage amount (total) Ms. Monica Jones can afford assuming a 25- year mortgage and a 20% down payment? (She will make monthly mortgage payment). Show detail financial modeling steps. The whole model should be interactive and formula should be linked.

1 : Do the above calculations using 15% down payments. Also, develop scenarios for 8 students, 10 students and 12 students per month in the painting school. Be conservative with your interest rate prediction. Make other necessary assumptions.

Answer rating: 100% (QA)

To calculate the maximum mortgage amount that Ms Monica Jones can afford we need to consider her income expenses down payment mortgage term and intere... View the full answer