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Please post excel sheet This is an accounting question sorry Required: 1. Calculate the monthly payment for a 15-year and a 6 -year mortgage loan.
Please post excel sheet
This is an accounting question sorry
Required: 1. Calculate the monthly payment for a 15-year and a 6 -year mortgage loan. 2. Calculate the amount of interest that you'd pay for a 15-year mortgage loan and a 6-year mortgage loan. Ask the Question: How much interest do you pay over the life of a 15-year and a 6-year mortgage? Master the Data: There is no data file for this lab. We will make the needed calculations and input the data as we go. To compute the mortgage payments, we'll need to know a few things: 1. The size of the mortgage loan 2. The interest rate 3. The length of the loan (number of months) Let's suppose you would like to buy a home for $250,000. But like most U.S. citizens, you don't have enough cash on hand to pay for the full house. But we're in luck! Signature Bank has agreed to offer you a 30 -year mortgage loan, but requires that you pay 20 percent down ($50,000=20% of $250,000) to qualify for their mortgage loan of $200,000 in this way: $250,600 cost of home 50,600 Required 208 down payment ($50,090=208 of $250,000) (The cash you need to have available to pay when closing on the home) $200,000. Amount of the bank loan Software needed - Excel - Screen capture tool (Windows: Snipping Tool, Mac: Cmd+Shift+4) Perform the Analysis: Refer to Lab 1.3 Alternative in the text for instructions and Lab 1.3 steps for each of the lab parts Share the Story: Accountants need to know how much of each monthly mortgage (or bond) payment goes toward interest: Upload the Word or PDF document containing your Lab screenshots using the button below. (Note: To prevent uploading issues avoi ising special characters in your file attachment nome.) 1. Take a-screenshot of the top 20 lines of your 180 -month amortization schedule and tabel it "Lab 1.3 Alt Submission 1 : 2. Take a screenshot of the top 20 lines of your 72-month amortization schedule and label it "Lab 1-3. Ait Submission 2 Step by Step Solution
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