a Loan = price-down = 400000-50000=350000
PVOrdinary Annuity = C*[(1-(1+i/100)^(-n))/(i/100)] |
C = Cash flow per period |
i = interest rate |
n = number of payments |
350000= Cash Flow*((1-(1+ 4.2/1200)^(-30*12))/(4.2/1200)) |
Cash Flow = 1711.56 = monthly payment |
b
PVOrdinary Annuity = C*[(1-(1+i/100)^(-n))/(i/100)] |
C = Cash flow per period |
i = interest rate |
n = number of payments |
PV= 1711.56*((1-(1+ 4.2/1200)^(-20*12))/(4.2/1200)) |
PV = 277593.45 |
c
Equity = market value-amount owed = 460000-277593.45=182406.55
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