 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000
& h8 a2 v5 q; u2 w4 I5 [ 10% down payment - Q- H. L! V: \1 W; V! P3 z
25 years mortgage (25 * 12 = 300 months); [' k! a4 G+ ^( u& R7 y$ c
rate 5.24
: l; b' I$ m6 H* w6 f/ \8 c
" H. F0 q- q+ ?# q1.effective rate 0.43197466
! ` o7 t0 [1 d! A in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly.
* o& F" i: K3 n R! u 1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.43197466, |1 H: d; A$ U% d. D" A; Y7 P
2.Adjusted mortgage balance; D; l6 g0 J# _, b
300,000 * 10% = 30,000 downpayment& [( F. k6 {" R+ u. S4 H
300,000-30,000 = 270,000 mortgage requried% @* ?& r: g- ]/ n f
270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)4 \: L- a( D( N8 `- z
270,000 * 2% = 5,400
- `. c. J* U4 b0 i$ x1 A$ f6 R h adjusted mortgage balance: 270,000 + 5,400 = 275,400+ J: v# c7 y T" q
3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment
; t: c# r, { z5 w4 V4. 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