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Harry is planning to buy a new home. The price of the house is $ 2 8 0 , 0 0 0 and he has
Harry is planning to buy a new home. The price of the house is $ and he has been offered a loan for years. He does not want his monthly payment to be more than $ Does this loan offer meet Harrys criteria? If not, what should be the interest rate in order to reduce the monthly payment to $ Alternatively, how large of a down payment would Johnny need to make in order to reduce his monthly payment to $ assuming interest.
Build a model and use whatif analysis to answer the above questions. Your model should be able to compute the monthly payment for any chosen home price, loan rate, loan duration, and down payment
Create a legend and use formatting to mark your input cells and your calculation cell.
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