Question 2

USE THE SPREADSHEET YOU DOWNLOADED FROM THE LESSONS TO COMPLETE THIS NEXT QUESTION. See Mortgage Payments Schedule Using a Spreadsheet page of the lesson. Or an online mortgage calculator. You can insert a screen shot in addition to filling in the values below. No marks will be awarded for a screenshot alone. You must enter the values into the table below yourself.

The Torres family wants to purchase a home that is valued at $275 000. They have a $35 000 down payment. The bank has offered them a 3.75% annual interest rate amortized over 25 years. Enter the missing values in the table below.

Month	Monthly Payment	Interest	Principal Payment	Unpaid Balance	Owners Equity
0
1
2