e06h3Mortgage_DavisLewis - Microsoft Excel 16.0 Answer...

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Microsoft Excel 16.0 Answer Report Worksheet: [e06h3Mortgage_DavisLewis.xlsx]Home Loan Report Created: 2/24/2016 7:29:28 PM Result: Solver found a solution. All Constraints and optimality conditions are satisfied. Solver Engine Engine: GRG Nonlinear Solution Time: 0.202 Seconds. Iterations: 1 Subproblems: 2 Solver Options Max Time Unlimited, Iterations Unlimited, Precision 0.000001 Convergence 0.0001, Population Size 100, Random Seed 0, Derivatives Central Max Subproblems Unlimited, Max Integer Sols Unlimited, Integer Tolerance 1%, Assume NonNegativ Objective Cell (Value Of) Cell Name Original Value Final Value $B$12 Monthly Payment $ 668.38 $ 1,000.00 Variable Cells Cell Name Original Value Final Value Integer $B$2 Cost of home $ 150,000.00 $ 150,647.82 Contin $B$3 Down Payment $ 10,000.00 ### Contin $B$4 APR 4.00% 5.91% Contin $B$5 No. Years for Loan 30 20 Integer Constraints Cell Name Cell Value Formula Status Slack $B$12 Monthly Payment $ 1,000.00 $B$12=1000 Binding 0 $B$2 Cost of home $ 150,647.82 $B$2<=300000 Not Binding 149352.1809 $B$2 Cost of home $ 150,647.82 $B$2>=100000 Not Binding $ 50,647.82 $B$3 Down Payment $ 10,000.00 $B$3<=10000 Binding 0 $B$3 Down Payment $ 10,000.00 $B$3>=5000 Not Binding $ 5,000.00
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