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 Interest Rate ⇒ The Payment Will Be $150,000 30 × 12 5.75%/12 $ 875.36 150,000 30 × 12 6.25%/12 923.58 150,000 30 × 12 7.50%/12 1,048.82 150,000 30 × 12 9.00%/12 1,206.93.

AppendixLO1