Instructions

Find the MONTHLY mortgage PAYMENT of stress tested(+2%) on your rate of 3.75% with a 25 year amortization mortgage. You will use the mortgage amount from previous sections. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 2 Years and 7 Months. Input all the TVM variables and answers into the fields below. -

Mortgage Amount From Previous Question $383332

Amortization 25 Years

P/Y C/Y Present Value of Loan (PV P1 Months P2 Months Number of Periods (N) Monthly Payment (PMT) BALANCE OVWING (BAL) Mortgage Rate As % (1/Y) Value At End of Loan (FV) PRINCIPAL PAID (PRN) INTEREST PAID (INT)