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Please use excel to calculate the Discount rate , Monthly payment, Periods remaining, PV of mortage , Cash from sale. Thank you NOPQR Problem 5-21
Please use excel to calculate the Discount rate , Monthly payment, Periods remaining, PV of mortage , Cash from sale. Thank you
NOPQR Problem 5-21 You have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $800,000. The mortgage is currently exactly 18% years old and you have just made a payment. If the interest rate on the mortgage is 5.25% (APR), how much cash will you have from the sale once you pay off the mortgage? Complete the steps below using cell references to given data or previous cale nations. In some cases, a simple cell reference is all you need to copypaste a formula across a row or down a column, an absolute cell reference or a mbed cell reference may be preferred. If a specific Excel function is to be used the directions will specify the use of that function. Do not hipe in merical dala into a cell or function. Instead, make a reference to the cell m which the data is found Make your computations only in the blue cells highlighted below. In all cases, wmless otherwise directed use the earliest appearance of the data in your formulas, usually the Given Data section $ $ Sale price Initial balance Number of years Periods per year Periods into the loan APR 1.000.000 800.000 30 12 222 5.25% * Discount rate Monthly payment Periods remaining PV of mortgage Cash from sale * * 20 Requirements 5-21 Type here to searchStep by Step Solution
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