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You are planning to purchase a house that costs $600,000. You plan to put 20% down and borrow the remainder. Based on your credit score,
| You are planning to purchase a house that costs $600,000. You plan to put 20% down and borrow the remainder. Based on your credit score, you believe that you will pay 4.5% on a 30-year mortgage. | |||||||
| 1. Use the function PMT to calculate your mortgage payment. | |||||||
| House costs | |||||||
| Down payment | |||||||
| PV of loan (PV) | |||||||
| # of periods (T) | |||||||
| Periodic interest rate (r) | |||||||
| Payment amount (pmt) | |||||||
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Cornerstones Of Financial Accounting
Authors: Bertrand Piccard, Jay Rich, Jeff Jones, Maryanne Mowen, Don Hansen, Nick Jones
1st Edition
0324657730, 9780324657739
