 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000* P5 \" z$ X9 g( [
10% down payment
0 ]: H; E5 Q$ n% B 25 years mortgage (25 * 12 = 300 months)
2 }( [! ]+ d/ D0 _; R3 `( z1 }; p5 s. n rate 5.24. e1 a- ~- b& k2 y% v
; J; Y# R% i+ G/ g8 J; A2 A
1.effective rate 0.43197466
! n! r) Z- ]( f in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly. 2 s. ~6 H; C: `; x
1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.43197466
2 E& q0 G3 q v" e8 L2.Adjusted mortgage balance; I3 s1 f" F( e1 @' |
300,000 * 10% = 30,000 downpayment+ ~+ g( p7 d/ b, m
300,000-30,000 = 270,000 mortgage requried0 x3 D; H" S6 X" I
270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)6 M3 k5 \' G/ g/ P5 h' @
270,000 * 2% = 5,400
5 f1 T6 ~6 u6 I; @$ D+ n8 q adjusted mortgage balance: 270,000 + 5,400 = 275,400
: N' M. n9 U, Z4 V0 K3 q3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment* p3 n. t! y# x& c) o
4. TOTAL INTEREST PAID IN 25 YEAR ABOUT $216,157.48  |
|
狗仔卡
发表于 2008-9-25 13:29
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡