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Please show all formulas they were used. Case 2 : Variations in Mortgage Interest You want to purchase a house and are reviewing variations in
Please show all formulas they were used.
Case : Variations in Mortgage Interest
You want to purchase a house and are reviewing variations in how to structure the mortgage.
One of your considerations is how much interest you pay. You need to calculate the total
interest paid for the following scenarios:
year mortgage at interest with monthly payments base case
year mortgage at interest with monthly payments
year mortgage at interest with monthly payments
year mortgage at interest with monthly payments and a down payment
year mortgage at interest with monthly payments and a down payment
year mortgage at interest with bimonthly payments twice per month
Structure your answer is a way that is easy to understand. The top header row row should
describe the cases. The left column column A should describe the data that appears in the cell
such as interest rate.
The bottom row should contain the total interest paid for each case.
This should be entered Sheet
Note: The key function to use in this case is PMT
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