Problem 5-47, Mortgage loan to buy condo

Fundamentals of Corporate Finance

Brealey, Myers, and Marcus

10th Edition

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Difficulty – Hard

Determine the annual payment on the loan, construct a mortgage amortization.

NOTE: This is a very difficult and lengthy problem with steps a-j possibly. See screenshot!

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  • Search Terms: (allow buy loan)? make must the this $,, % %, %. %? f. (do (halfway (lo-) a. (year-end) ,. -year . a a. after amortization amortization. amortization? e. amortizing an and annual annually answer answers assume at b. balance be been beginning-of- buy calculations. can change.) c. compute condo. construct decimal due each end end-of-year enter excel first fraction has high-inflation i-. if in inflation inflation. initial input interest interest? d. intermediate is j. keep last life loan loan, loan? loan? b. loans make mortgage new nominal not now of off on out paid payment payment? g. payment? h. payments places.) rate rate? i. real recompute round scenario? scenario? suppose scenario? j. similar simple, spreadsheet suppose table table. take that the things this through to unchanged. user value we what which why will year year, year-end year. years you your
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