 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000- Q# E) ~* i* o8 v
10% down payment
! y' T) _. q4 w' e0 Z 25 years mortgage (25 * 12 = 300 months)" x* n5 A: L' Y, m2 n6 C
rate 5.247 \, m4 a3 |$ b6 T
2 h' J& F$ ?% `6 b; t1.effective rate 0.43197466. R$ e3 S/ \* R+ h/ d. R* X8 ^ h
in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly. # s7 J" v# T* C
1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.431974668 P4 C# R% U' C: g: G
2.Adjusted mortgage balance
! G, J4 F& l# W; R3 A( @ 300,000 * 10% = 30,000 downpayment- @ t p+ P6 U J
300,000-30,000 = 270,000 mortgage requried
- W3 x! V4 t1 i 270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC). f+ P9 z2 ^. O2 w7 x
270,000 * 2% = 5,4002 @# f( g# X+ D
adjusted mortgage balance: 270,000 + 5,400 = 275,400
. L" q% N. H8 ^" r0 B3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment
) j d6 ~; z% D5 b3 M4. 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