 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000
* l, e8 e- F. S4 w8 t9 y9 g8 {- o 10% down payment ! I8 H- s! i. [: Q( i; z
25 years mortgage (25 * 12 = 300 months)
6 Q8 p' _7 Q. U5 S/ t rate 5.24
. @8 S' \1 u6 l6 b* C1 ]9 [0 ?) [4 D* M2 M
1.effective rate 0.431974666 q8 y% B6 B4 W2 O1 p
in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly. $ `7 H# c0 K( {$ x- B" m; q" s9 ]
1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.431974667 Y( o; L0 `/ D
2.Adjusted mortgage balance3 ]/ @& e$ F/ n) R7 j U
300,000 * 10% = 30,000 downpayment: g9 N6 b( |* R2 Z1 A
300,000-30,000 = 270,000 mortgage requried. v/ s0 t1 \. _% h: s& b1 L
270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)8 K% S# e% m& `% _+ a" D
270,000 * 2% = 5,400# s' T5 z2 w& j) {3 }. n
adjusted mortgage balance: 270,000 + 5,400 = 275,400- H B) a7 m& K. w1 A
3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment
0 r1 X; @" p% j2 L% y6 [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