Excel File Edit View Insert Format Tools Data Window Help 9 21%D Thu 3:10 PM QE Share Comments O. AutoSave OFF BU: HW 2 Evaluate investment, Mortgage, Interest rate, Budgeting Home Insert Draw Page Layout Formulas Data Review View Tell me 1 ev? VIA A Oy Q Alvy Trace Precedents Datine Name Trace Dependents Insert AutoSum Recently Financial Logical Date & Lookup & Math & More Create from Selection Show Error watch Function Used Time Reference Tria Functions Remove Arrow Formulas Checking Window U28 fx K L M N P R S W Y Z fr ' DX A F Calculate Now Taxt Calculation calculate Sheet Options AA AB AD AE AF AG You plan to purchase a house with offering price of $300,000. You will put 20% down and take a loan from your bank for the rest. You decide to take a 15 year mortgage and no plan to prepay or refinance the loan. You bank offers you the following options. Answer the question below with calculation details. a. What is the monthly payment for the optoin 1 and 2, respectively? b. How much you need to pay to buy the points for Option 2 (2 points)? 10 HC. Should you choose Option 1 (no points) or Option 2 (buying 2 points) assuming you do have enough saving to buy the points? 12 13 14 Option 2 Option 2 alternative Alternatively Option 1 Option 2 Principle Ini PMIT 15 16 17 18 19 20 21 22 23 24 26 28 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 . 5% APR No points 15-year equal monthly payment 4.5% APR 2 points 15-year eqaul monthly payment Instructions Problem 1 Problem2 Problem 3 Problem 4 Problem 5 + Ready + 10% 25 SI tv A Excel File Edit View Insert Format Tools Data Window Help 9 21%D Thu 3:10 PM QE Share Comments O. AutoSave OFF BU: HW 2 Evaluate investment, Mortgage, Interest rate, Budgeting Home Insert Draw Page Layout Formulas Data Review View Tell me 1 ev? VIA A Oy Q Alvy Trace Precedents Datine Name Trace Dependents Insert AutoSum Recently Financial Logical Date & Lookup & Math & More Create from Selection Show Error watch Function Used Time Reference Tria Functions Remove Arrow Formulas Checking Window U28 fx K L M N P R S W Y Z fr ' DX A F Calculate Now Taxt Calculation calculate Sheet Options AA AB AD AE AF AG You plan to purchase a house with offering price of $300,000. You will put 20% down and take a loan from your bank for the rest. You decide to take a 15 year mortgage and no plan to prepay or refinance the loan. You bank offers you the following options. Answer the question below with calculation details. a. What is the monthly payment for the optoin 1 and 2, respectively? b. How much you need to pay to buy the points for Option 2 (2 points)? 10 HC. Should you choose Option 1 (no points) or Option 2 (buying 2 points) assuming you do have enough saving to buy the points? 12 13 14 Option 2 Option 2 alternative Alternatively Option 1 Option 2 Principle Ini PMIT 15 16 17 18 19 20 21 22 23 24 26 28 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 . 5% APR No points 15-year equal monthly payment 4.5% APR 2 points 15-year eqaul monthly payment Instructions Problem 1 Problem2 Problem 3 Problem 4 Problem 5 + Ready + 10% 25 SI tv A
