a. b. b c. d. Enter Probable Monthly Gross Income Percent of Gross Income Allowed for Mortgage Calculate Mortgage Payment based on Max % Assumed down payment Mortgage Rate Frequency of Mortgage Length of Mortgage 12,000 Enter a # that seems right for you. 42% 5040 Multiply C3 x C2 20% 3.50% Monthly 30 Years e. Question 1: Calculate how much you can afford to borrow 1 PMT I/Y N FV PV Question 2: Calculate the amount of the down payment based on the max you can borrow. Loan Amount Total Home Value Down Payment ? $0.00 #VALUE! Question 3: Show amortization schedule based on the max loan you can borrow at? 3. Amortization Schedule Months Balance Mortgage Payment Net Interest Principal Ending Balance 1 $0 Mortgage Rate n Loan 3.500% 360 2 3 3 4 5 6 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27