can you put in the excel equations as well . Consider...
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can you put in the excel equations as well
. Consider a home mortgage problem. The house in question will cost $196,000. There is no down payment, which means the entire $196,000 will be financed via loan. The loan will be a 15-year loan. The annual interest rate (APR) is 3.5%. Payments to the bank are monthly. Address the following: Compute the monthly loan payment Construct a loan amortization schedule for the life of the loan Since there is no down payment, the lender is requiring a monthly private mortgage insurance (PMI) payment of $75. This payment is required until the loan balance at the beginning of the month) is below 80% of the loan origination amount (i.e., below 80% of the $196,000). Create a PMI column that outputs the amount of the PMI payment ($75 or $0) each month. Additionally, it is estimated that the following outflows will occur each month: $80 in property tax, $90 in home insurance, and $125 in upkeep and maintenance. Create a column that outputs the homeowner's total cash outflow each month (which should include these expenses, the PMI payment, and the monthly loan payment)
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