1.Downpayment2.mortgagepaymentborrow120,000.00$2,877.84480,000.00 3. Total monthly cost of buying condo \begin{tabular}{|l|r|} \hline mortgage & $2,877.84 \\ \hline condo fees of & 500 \\ \hline property tax & 300 \\ \hline repairs/maint & 50 \\ \hline \end{tabular} Total $3,727.84 4. enter rent 3000 5. Net additional cost of buying v renting monthly basis cost more (less) per month to buy 6. Senario Analysis a) what do you owe after 2 years? $467,847.53 hint: number of payments remaining b) what do you owe after 5 years? $446,660.91 c) what do you owe after 10 years? $401,691.48 7. price sold after 2,5 , or 10 years if the price is 2constantafter2540000downby10%after2years 8. Was it a good investment under the above senarios? (don't forget 5% of selling price to realtor plus 2000 in closing costs) (assume would have been able to invest funds at the same monthly rate as the mortgage) 1.Downpayment2.mortgagepaymentborrow120,000.00$2,877.84480,000.00 3. Total monthly cost of buying condo \begin{tabular}{|l|r|} \hline mortgage & $2,877.84 \\ \hline condo fees of & 500 \\ \hline property tax & 300 \\ \hline repairs/maint & 50 \\ \hline \end{tabular} Total $3,727.84 4. enter rent 3000 5. Net additional cost of buying v renting monthly basis cost more (less) per month to buy 6. Senario Analysis a) what do you owe after 2 years? $467,847.53 hint: number of payments remaining b) what do you owe after 5 years? $446,660.91 c) what do you owe after 10 years? $401,691.48 7. price sold after 2,5 , or 10 years if the price is 2constantafter2540000downby10%after2years 8. Was it a good investment under the above senarios? (don't forget 5% of selling price to realtor plus 2000 in closing costs) (assume would have been able to invest funds at the same monthly rate as the mortgage)