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In: Finance

You've saved up to buy a house and will put $60,000 down on a $350,000 home....

You've saved up to buy a house and will put $60,000 down on a $350,000 home. You're stated interest rate is 4.3%, and you'll make monthly payments for 30 years. What will be your mortgage payment?

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Expert Solution

Monthly mortgage payment is calculated using the PMT function as follows:-

=PMT(rate,nper,pv)

=PMT(4.3%/12,30*12,350000-60000)

=1435.13

jeff jeffy answered 2 years ago
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