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Exercise 8 If you borrow $500000 to purchase a home, what do you expect your monthly payment will be? Assume a 30 year mortgage and

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Exercise 8 If you borrow $500000 to purchase a home, what do you expect your monthly payment will be? Assume a 30 year mortgage and a fixed 7% interest rate. Submit your answer. Present Value of an Ordinary Annuity of $1 1% 2% 3% 4% 5% 1 6% 0.990 0.980 7% 8% 0.971 0.962 9% 10% 0.952 11% 12% 0.943 13% 0.935 14% 15% 2 16% 0.926 1.970 17% 10% 0917 0.909 0.901 0893 0885 0877 0870 0362 0.855 OH! 0340 1.942 10% 1913 1.886 1859 1833 3 2.941 1.808 1.783 2.884 1759 1736 2.829 2.775 1713 2.723 1600 1663 1647 1626 1.605 1585 1 566 1547 2673 2624 2.577 2531 2.487 2444 2402 2361 2322 2283 2246 2210 2174 2140 4 3.902 3.808 3.717 3.630 3.546 3.465 3.387 3.312 3240 3.170 3.102 3.037 2974 2914 285 278 279 2690 2639 5 4 .853 4.713 4.580 4.452 4.329 4212 4.100 3.993 3.890 3.791 3.696 3.60 3.517 343 6 5 .795 33523274 3199 3.127 3068 5.601 5.417 5.242 5.076 4.917 4.767 4.623 4.486 4.355 4.231 4.111 3.998 3.889 3.784 3685 3569 3.498 3.410 7 6 .728 6.472 6230 6.002 5.786 5.582 5.389 5.206 5,033 4.868 4712 4564 4423 4288 4.160 4039 3922 3812 3706 8 7.652 7325 7.020 6.7336 .463 6210 5.971 5.747 5.535 5.335 5.146 4.968 4.799 4.639 4.437 43444207 4078 2954 9 8 .566 8.162 7.786 7.4357 .108 6.802 6.5156.247 5 995 5.759 5537 5328 5.132 4946 4.772 4 607 4451 4.303 4 163 109.471 8.983 8.530 8.1117.722 7360 70246.710 5.418 6.14515889 5.6505426 5216 5.019 4833 4.659 4494 4339 11 10 368 9.787 9.253 8.7608.306 7 887 7499 7.139 6805 6.495 6 207 5.938 5687 5.453 5234 50294 836 4656 4405 12 11.255 10.575 9.954 9.3858 .863 8.384 7.9437.536 7.161 5.8146 .492 6. 194 5 918 5.660 5.421 5197 4988 47934611 11.348 10.635 9.9869.3948.853 7.487 8.3587904 7.103 6.424 13 12 134 6.750 5 122 5.842 5.583 53425 118 4910 4715 12.106 14 13.004 11.296 10.563 9.899 9.295 8745 8.244 7.786 7.3676.982 6828 6 302 6.002 5724 5468 5229 5.000 4802 13.865 11.938 12849 11.118 15 9.712 10.380 9.108 8061 7606 7.1916.811 5.462 6.142 5847 5575 5324 50924875 8.559 10.106 8.313 6.974 6,604 62055 954 5668 5.4065152430 9.4478851 7.824 7379 10 838 13.578 16 14.718 12.561 11.652 15 562 14.292 11.274 8544 3.022 7549 7 120 6.7296373 6.047 57495.47552224990 13.166 12 166 17 10.477 9.7839.122 7.250 6.840 6.457 6.128 5818553452735000 8.756 8201 7.702 12.659 10.828 13.754 18 16.398 10.0599.372 14.992 11.690 11.158 10.336 9.804 12.085 13.134 8.950 8.365 783973666.938 6.550 6.198 5877 554 5315 5070 19 17 226 15.678 14.324 PVA Table PV Table FV Table QS EX PVA Table PR B YN In-class

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