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1. Calculate the maximum value of a home which a buyer may purchase based on a pre-approved mortgage with the following characteristics. Loan Amount 80%
| 1. Calculate the maximum value of a home which a buyer may purchase based on a pre-approved mortgage with the following characteristics. | ||||||||||
| Loan Amount | 80% | of Purchase Price | ||||||||
| Loan Term (nper) | 20 | years | 240 | months | fully amortizing | |||||
| Payments (PMT) | $1,750 | per month | ||||||||
| Interest Rate (i) | 3.95% | per year | 0.33% | per month | ||||||
| Future Value (FV) | 0 | (fully amortizing) | ||||||||
| Maximum Value of Loan (PV) | ||||||||||
| Maximum Value of Home | ||||||||||
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Financial Crimes
Authors: Maximilian Edelbacher, Peter Kratcoski, Michael Theil
1st Edition
0367866528, 978-0367866525
