$$160000$ house is purchased with $5\%$ down payment $.$

The loan payment is monthly at $6\%$ for $20$ years.

In Excel: calculate find the present value, i$,$ total number of payments, see below.

Calculate the payment amount $3$ different ways, see below

$2.$ In excel calculate down payment

$3.i$

$4.n=$# of pmts

$5.$ Hand calculate mortgage payment

$6.$ calculate payment with Fx $($click on FORMULA click on Financial and scroll to PMT$)$

$7.$ calculate payment with excel formula $"=G{5}^{**}(G\frac{10}{1-(1+G10{)}^{-G}11})$

$8.$ Give $4$ solutions to reduce monthly pay nent

Mortgage amt $PV=$

$12.$ Other closing expenses are: your attorney $$500,$ bank attorney $$500,$ title $$600,$ deposit for taxes $$1200,$ misc $$500$

$13.$ In excel caluclate the amount of money needed at closing $($down payment $+$ closing expenses$)$

$14.$ copy and paste the first three pages of the web site amortization table below and save file.