e06h3Mortgage_DavisLewis

# 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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