You are considering buying a Back Bay two-bedroom apartment for $800,000. You plan to make a $200,000 down payment and take a $600,000 30-year mortgage for the rest. The interest rate on the mortgage is 6% monthly APR.
Assessment instructions Work your way through the following information to understand and achieve the requirements for this assessment. Use an Excel spreadsheet to clearly display the formulas employed and a detailed, step-by-step solution. You are encouraged to utilise Excel functions to verify your solutions.Note: Solutions solely relying on Excel functions will not be accepted. Important: Write clearly […]