 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000
' b) p7 x9 S7 h 10% down payment
?! ~( n7 |7 X9 Q, g$ g( c- |7 e 25 years mortgage (25 * 12 = 300 months)! z' }3 P( m3 A0 M
rate 5.24, J' i5 O. z2 d4 Z" m; J7 _
+ e2 z0 D m& Z" l6 n z! x+ l1.effective rate 0.43197466/ U4 p6 f. b0 f- Q0 |+ K
in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly.
G8 J6 K) N: A& \& K/ z0 ^. W 1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.43197466. K* G# ?# E9 Z& J8 A
2.Adjusted mortgage balance
* l* W- _9 Q; x; P- f& `' L 300,000 * 10% = 30,000 downpayment& m X4 D' n( I; W- y B
300,000-30,000 = 270,000 mortgage requried5 B# `! d# \# n. y$ {
270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)
% O1 S& a9 q& C4 o, ^ 270,000 * 2% = 5,400+ o9 _0 r2 [# e0 l
adjusted mortgage balance: 270,000 + 5,400 = 275,400
" k9 B8 `) `4 ]3 Y2 H7 z3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment
0 z. B( |4 G0 }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