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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.

2. Use the function PV to calculate the loan amount given a payment of $2,000 per month. What is the most that you can borrow?
Payment amount (pmt)
# of periods (T)
Periodic interest rate (r)
PV of loan (PV)

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