please provide excel formula refer to highlighted answer please
1) Suppose you
obtain owner financing on a fixer-upper. Cost is $76,000. You make monthly payments based on a 10 year term @ 8% APR. What is the balloon payment due in 3 years?
2) Suppose you must have 20% down to obtain the preferred rate. What would that be for a $165,000 purchase?
3) Suppose you must have 20% down to obtain the preferred rate, which is 1¼ points (1.25%) below the regular rate of 7.25%; what is your monthly payment on a
15-year term mortgage?
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