do it in spreadsheet

You want to buy a car for $12,000 and the interest rate is 6%, if you pay it off over 4 years what is your monthly payment? As 12, you are told that if you can save $1,000 for a down payment that the dealership will offer you a load at 4% over 4 years. Compare the 'cost of the loan' IE interest paid, over both loans. You want to pay back you student loads at 6.14% over 20 years that have a capitalized balance at your graduation of $42,000. What is your monthly payment? When will you in your repayment actually have only $21,000 left to pay off? You want to buy a house for $130,000. You are required to pay 4% down. Then you must borrow the rest. The rate is 3.54%, compare the monthly payments for a 20 year loan to a 30 year loan. Compare the 'cost of the loan' between them as well. As in 16, for the 30 year loan, when will you have shrunk your balance to 1/2 of the loan amount? As in 16, how much profit does the bank make over the 20 year loan' How much profit does the bank make over the 30 year loan? Typical fire insurance, taxes, mortgage requirements etc... amount to 1.5% of the purchase price of the house, a year to your payments to the bank. [This is often called escrowing] Spreading this cost out over each monthly payment you also have to pay the mortgage amount based how much house you bought, interest rate and length of loan Suppose you got a guarantee for a 3.4% home loan with a maximum monthly payment (including escrow) of $1, 111 How much house can you afford on a 25 year mortgage