You just found the home of your dreams and you have negotiated a sale price of...

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You just found the home of your dreams and you have negotiated a sale price of $750,000. You can get a 30 year loan from your local bank at a rate of 4.75% per year. Additionally, the bank requires you to put a 20% down payment, and they will finance the remaining balance. How much will your MONTHLY payment be? Reference the below formulas when solving the problem above: PV FV/(1+r)^t FVA = PMT(((1+r)^t)-1)/r (r/12)^t(12))-1)/(r/12) = PVA PMT(((1-(1+r)^-t)/r)) t(12)))/(r/12) FV = PV(1+r)^t FVA = PMT((1+ = PVA PMT((1-(1+(r/12))^- Edit View Insert Format Tools Table 12pt Paragraph V R You just found the home of your dreams and you have negotiated a sale price of $750,000. You can get a 30 year loan from your local bank at a rate of 4.75% per year. Additionally, the bank requires you to put a 20% down payment, and they will finance the remaining balance. How much will your MONTHLY payment be? Reference the below formulas when solving the problem above: PV FV/(1+r)^t FVA = PMT(((1+r)^t)-1)/r (r/12)^t(12))-1)/(r/12) = PVA PMT(((1-(1+r)^-t)/r)) t(12)))/(r/12) FV = PV(1+r)^t FVA = PMT((1+ = PVA PMT((1-(1+(r/12))^- Edit View Insert Format Tools Table 12pt Paragraph V R