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Please answer #3 and just give me the figures. 2) Set up an excel file to find the monthly payment for a home loan ol
Please answer #3 and just give me the figures.
2) Set up an excel file to find the monthly payment for a home loan ol 3) Set up an excel file to find the monthly payments for a home loan of $275,000 at an interest rate of 2.74% for loan lengths ranging from 15 to 30 years. Create a column with accept or reject the loan based on desire for monthly payment to be less than $1,300. 12 30 360 2.74% 0.73% 1 Home Loan Project 2. 3 Payments per year (m) 4 Number of years it) 5 Total Number of payments (n) 6 Interest rate ir 7 Rale per period fi) 8 Periodic payment (PMT) 9 Present Value (PV) 10 Future Value (FV) 11 12 Number of years (1) 13 275000 Desire Payment Total Payments 15 $1.300 16 14 17 18 15 16 17 18 19 20 21 22 23 24 25 Montly Payment Accept or Reject 180 ($1,861.90) Reject 192 ($1,770.73) Reject 204 ($1,687.79) Reject 216 ($1,614.73) Reje 228 ($1,548.56) Reject 240 ($1,489.60) Reject 252 ($1,436.38) Reject 264 ($1,388.13) Reject 275 ($1,344.20) Rejer 288 ($1,304.04) Reject 300 ($1,267,20) Accept 312 ($1,233,30) Accept 324 ($1,207.01) Accept 335 ($1,173.06) Accept 348 ($1,146.19) Accept 360 ($1,121.21) Accept 19 20 21 22 23 24 25 26 27 20 20 26 27 28 29 30Step by Step Solution
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