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You are buying a house for $250,000. You put down $50,000. You borrow $200,000 for 30 years at 6%. How much will your monthly payments

You are buying a house for $250,000. You put down $50,000. You borrow $200,000 for 30 years at 6%. How much will your monthly payments be? What will be your outstanding principal after 2 months? Build an amortization table. 


Semiannual compounding. You deposit $10,000 into an account now. The interest rate is 8% compounded semiannually. How much money is in your account one year from now? Three year from now? What is the EAR? Exercise #5: The inflation rate is 3% per year. How much will a car worth $30,000 now cost in 25 years?

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