rapidly rising housing prices, accounting homework help
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I NEED THIS ON EXCCEL SPREADSHEET WITH ALL THE NUMBER SIR. THE NAME EXCEL PAPER CAN BE HOME WORK P6 , P9 , P10 ,P11 , P12, P13 , P15
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Order Paper NowUnfortunately, due to rapidly rising housing prices during the decade prior to 2006, many home buyers needed increasingly larger loans to make their real property purchases. For example, a $200,000 fixed-rate mortgage loan would result in a much higher monthly payment compared to a $100,000 loan. Rework the above financial calculator spread sheet solutions using a PV of – 200000. The resulting doubling of the monthly payment to $1,199.10 means that fewer potential home buyers could qualify for these larger loans.
P6
FV = PV * (1+r)^n;
a)5000 = PV * (1+0.05)^10; 5000 = PV * (1.05)^10; PV = 5000/((1.05)^10); PV = $3,069.57
b)5000 = PV * (1+0.07)^7; 5000 = PV * (1.07)^7; PV = 5000/((1.07)^7); PV = $3,113.75
c)5000 = PV * (1+0.09)^4; 5000 = PV * (1.09)^7; PV = 5000/((1.09)^4); PV = $3,542.13
P9
FV = PV * (1+r*n);
FV = 5000 * (1+0.1*5); FV = 5000 * 1.5; FV = $7,500
P10
PV = FV/((1+r)^n)
PV = 3000/((1+0.04)^1); PV = 3000/1.04; PV = $2,884.62
PV = 3000/((1+0.04)^2); PV = 3000/1.04; PV = $2.773.67
P11
PV = FV/((1+r)^n)
PV = 3000 *
P12
Monthly payments = $11122.22; annual payment = $133,466.64
P13
Monthly payments = $380.44; annual payments = $4,565.28
P15
a)85*8 + 1000 = $1,680; PV = 1680/((1+0.085)^8); PV = $874.72
b)PV = 1680/((1+0.1)^8) = $783.73
c)PV = 1680/((1+0.08)^8) = $907.65
