 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000
4 | E0 A& H2 Y4 ? 10% down payment 5 u/ M( O' ]# C% ~5 m' O9 }
25 years mortgage (25 * 12 = 300 months)1 U8 Q0 _% V8 c" k- E
rate 5.24
: A! m6 [* h) J S$ O3 n7 X
: Y/ m4 m! x9 K1 N1.effective rate 0.43197466
% @9 e# ^8 {$ ~, m8 k( L2 v in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly. : h$ b( A: _. ` i
1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.43197466
1 ?7 {, g- F: W2 U7 N7 N7 V. J1 J2.Adjusted mortgage balance1 `$ S# }2 f7 I Y! |5 E$ b
300,000 * 10% = 30,000 downpayment) h: m& }4 {: J+ F; \6 |
300,000-30,000 = 270,000 mortgage requried" L7 A, n+ r9 f$ C2 n1 m
270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)
& i% S" r( [. E7 s* L 270,000 * 2% = 5,400
; X( c4 s7 G8 W/ }* k adjusted mortgage balance: 270,000 + 5,400 = 275,400
6 Q: v4 e3 |" v; c( S8 {0 I3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment: t$ [& L5 I5 c$ P- l( R3 R% C) s) C
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