Question
Please use excel and display equations. For this project you need to come up with five what-ifs. You should use your own house if you
Please use excel and display equations.
For this project you need to come up with five what-ifs. You should use your own house if you have one. For instance you buy a $500,000 house, put 25% down and finance the rest at 5.5% for 30 years. Now suppose that after 15 years you decide to refinance at 4.7% for 30 years. How much would you save? Now jump to the bottom line and figure how much you save. Is there any ah hah moments? What if you increased the payment with an extra $250 each month? How much sooner would it take to pay off the house? If instead of refinancing at 15 years you decide to refinance at 10 years. How does the amount saved differ from the original problem? If you plan on buying this house and paying for it. How big is your budget for buying a house. According to the information given above.
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