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Directions: One group member should post one MS - Excel spreadsheet to Canvas for your entire group. Your groups will be listed in the Announcements
Directions: One group member should post one MSExcel spreadsheet to Canvas for your entire group. Your groups will be listed in the Announcements section of Canvas. Do not work with any other groups in formulating or checking your answers. Email the instructor with any questions. Include your amortization table on one sheet points and your answers to the following questions on a different sheet points within the same Excel file. Your amortization table should be set up so that if the assumptions change your table updates appropriately. The assumption cells should be clearly identified eg yellow Grades will not be posted until everyone in your group has completed the peer evaluation or the due date has passed whichever is sooner.
Scenario: years ago, Janice got a $year mortgage with an annual interest rate of and monthly payments.
What is her monthly payment?
How much does she owe today after payments
Janice is planning to move in years.
How much will she owe in years after payments
Option : Janice is considering making an extra payment of $ each month for the next years.
How much will she owe in years after payments if she makes an extra $ payment every month starting with her next payment payment
Option : Janice is considering refinancing the remaining balance on her loan your answer to along with $ in closing costs into a new year mortgage with an annual interest rate of and monthly payments.
What would her monthly payment be with the new mortgage?
How much will she owe in years on her new mortgage?
Which option or do you think would be best? Explain.
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