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help please and show formulas used When moving to Macon, I took out a 15 year $100,000 loan with a 6.125% APR, compounded monthly. I
help please and show formulas used
When moving to Macon, I took out a 15 year $100,000 loan with a 6.125% APR, compounded monthly. I have already made 12 payments. Question 1: What is my current P&I payment (what is A on this 15 year $100,000 loan)? AA = $850.62 Question 2: What is the present value and future value of the remaining payments of my current loan? PA= $ 95,800.92 Fa = $ 106,299.91 Upload your work for Questions 3, 4, &5 in Excel in Canvas by October 24, 2019 I have a chance to refinance by taking out another 15 year $99,200 loan with a 4.75% APR, compounded monthly. (Note the principle is different because new closing costs ($3,200) have been rolled into the remaining principle of the existing loan ($96,000), so that no out of pocket expenses are incurred). Question 3: What is the new P&l payment? AB = Question 4: What is the present value and future value of this new loan (this is an easy question)? PB = 1111 Fe = Question 5: What will be the present value and future value of each loan in two years (24 months)? Keep in mind that 12 months had already been paid on the first option PA2 = FA-2 = PB-2 = FB-2 = =============================================================Step by Step Solution
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