Finance Assignment | Professional Writing

Mortgage Analysis You are planning to purchase a house that costs $480,000. You plan to put 20% down and borrow the remainder. Based on your credit score, you believe that you will pay 3.25% on a 30-year mortgage. 1. Use function “PMT” to calculate your mortgage payment. 2. Use function “PV” to calculate the loan amount given a payment of $1550 per month. What is the most that you can borrow? 3. Use function “RATE” to calculate the interest rate given a payment of $1550 and a loan amount of $384,000. 4. For each scenario, calculate the total interest that you will have paid once the mortgage is paid off. (There is not a function for this, enter the formula into the cell.)

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper

Homework For You

5. For each scenario, calculate the total cost of the home purchase. (Down payment plus principle (loan amount) plus interest.) 6. Assume that you plan to pay an extra $300 per month on top of your mortgage payment, calculate how long it will take you to pay off the loan given the higher payment. (Use the data from #1). Calculate how much interest you will pay in total? Compare this to the value that you calculated for #1. You want to determine whether you should only 10% down on your house. Because you are only putting 10% down, lenders require that you purchase private mortgage insurance (PMI). Assume that PMI is 1% of the mortgage amount. Assume that you will pay PMI for 8 years in total (the assumption is that you will have 20% equity at that time so PMI will no longer be needed). 7. Calculate your total monthly payment (mortgage payment plus PMI). 8. Calculate the total cost of financing your home purchase (interest plus PMI). (remember that you only pay PMI for 8 years) 9. Calculate the total cost of the home purchase. (Down payment plus principle (loan amount) plus interest plus PMI.) 10. Compare this to the costs associated with a 20% down payment (use data from #1).

Get Finance homework help today

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Homework Writing Services
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Be keen on instructions.
Customer 460653, April 6th, 2022
The revision was beautifully written! Thank you to the writer for writing a quality paper and thank you to customer service for delivering a quality paper.
Customer 452455, July 29th, 2023
Home Repair & Home Maintenance
Good job!
Customer 463337, November 21st, 2022
Always check word count when proofreading.
Customer 452441, April 6th, 2022
A job well done
Customer 463679, May 9th, 2023
well done
Customer 452441, April 14th, 2022
Good work.
Customer 462257, April 8th, 2022
A job well done. Quite an improvement.
Customer 463679, March 30th, 2023
On point.
Customer 463131, July 6th, 2022
Interior Decoration
Excellent work! We look down to your future contribution
Customer 463463, November 16th, 2022
Good work.
Customer 462579, June 4th, 2022
The writer did a really good job on the research.
Customer 463869, April 14th, 2023
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat