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1 compute the future value of a $240,000 home purchased tody which i

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1.compute the future value of a $240,000 home purchased
tody which increases in value by 3.5% annually for 10
yeears.
2. compute the monthly morgage payment for a $200,000
morgage loan for 30 years with a conract rate of 3.75%.
Solution
2.monthly payament = 3.75%/12 * $200000 * (1 +
3.75%/12)12*30 / (1 + 3.75%/12)12*30 - 1
= 0.003125 * 200000 * (1 + 0.003125)360 / (1 +
3.75%/12)360 - 1
= 625 * (1.003125)360 / (1.003125)360 - 1
= 625 * 3.0748 / 3.0748 - 1
=1921.75 / 2.0748
= $926.23

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1.compute the future value of a $240,000 home purchased tody which increases in value by 3.5% annually for 10 yeears. 2. compute the monthly morgage payment for a $200,000 morgage loan for 30 years with a conract rate of 3.75%. Solution 2.monthly payament = 3.75%/12 * $200000 * (1 + 3.75%/12)12*30 ...
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