Homework Answers
| 10% downpayment | 20% downpayment | |||
| Before Downpayment | Before Downpayment | |||
| Present Value ($) | 650000 | Present Value ($) | 650000 | |
| Rate | 2.95% | Rate | 2.65% | |
| Term | 15 | Term | 15 | |
| annual mortgage payment($) | 1005311.419 | annual mortgage payment($) | 962253.4573 | |
| pmt($) | 4473.166 | pmt($) | 4380.177 | |
| Ipmt($) | 1519.202 | Ipmt($) | 1363.088 | |
| ppmt($) | 2953.964 | ppmt($) | 3017.088 | |
| After downpayment | After downpayment | |||
| Present Value ($) | 585000 | Present Value ($) | 520000 | |
| Rate | 2.95% | Rate | 2.65% | |
| Term | 15 | Term | 15 | |
| annual mortgage payment($) | 904778.4242 | annual mortgage payment($) | 769799.14 | |
| pmt($) | 4025.850 | pmt($) | 3504.141 | |
| Ipmt($) | 1367.282 | Ipmt($) | 1090.471 | |
| ppmt($) | 2658.568 | ppmt($) | 2413.671 |
| 10% downpayment | 20% downpayment | Return | |||
| Before Downpayment | Before Downpayment | ||||
| annual mortgage payment($) | 1005311.419 | 962253.457 | 43057.96 | ||
| pmt($) | 4473.166 | 4380.177 | 92.989 | ||
| Ipmt($) | 1519.202 | 1363.088 | 156.114 | ||
| ppmt($) | 2953.964 | 3017.088 | -63.124 | ||
| 10% downpayment | 20% downpayment | Return | |||
| After downpayment | After downpayment | ||||
| annual mortgage payment($) | 904778.4242 | 769799.14 | 134979.3 | ||
| pmt($) | 4025.850 | 3504.141 | 521.709 | ||
| Ipmt($) | 1367.282 | 1090.471 | 276.811 | ||
| ppmt($) | 2658.568 | 2413.671 | 244.897 |
pmt= EMI
IPMT=interest on emi
PPMT=principal value of emi
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