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The Applegate family is planning to purchase a house. The house they are interested in is...

The Applegate family is planning to purchase a house. The house they are interested in is listed for $250,000. The current 30-years Mortgage rate is 5.3% (APR).

Your task is to find out what will happen to their monthly payment if they put down 10%, 20%, and 30%.

Additionally, they would like to see what happens when they choose a 15-year mortgage with 4.2% APR.

  1. Create an Excel spreadsheet to answer the questions above.
  2. You will be using Data Tables and Scenario Manager to complete the Excel spreadsheet.
  3. Also provide the Amortization sheet for the 15-year mortgage with 4.2% APR and 20% down payment.

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Formulae

jeff jeffy answered 2 years ago
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