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A home is listed for $674,999. The loan amount (after 20% down payment) is $539,999. The current interest rate (APR Monthly Compounded) is 7.339%. The
A home is listed for $674,999. The loan amount (after 20% down payment) is $539,999. The current interest rate (APR Monthly Compounded) is 7.339%. The monthly mortgage payment is $4,712. Conduct a sensitivity analysis in Excel for the variable of interest rate (APR monthly compounded). What effect does the changing interest rate have on the monthly mortgage payment?
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