Question

Can someone check my answers please? Thank you!

3) Find a vacation home that you would like to own on the internet. a) Paste a picture or screen shot in the box below using the "mountain" button to add the picture. The picture should include the following:
i) Picture of the vacation home.
ii) Sale price of the vacation home.

$25,000,000 日-2011

b) Sale price of the vacation home = $ 25000000
DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT

c) If the loan agency requires a down payment of 20%, what will your down payment be? Remember to use the sale price from Part b.
Down payment = $. 5000000
DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed.

d) If you plan to finance the rest of the sale price, how much would the loan amount be?
Loan amount = $.  20000000
DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed.

e) What would the monthly mortgage payment be if your loan was a 1.7% 30 year fixed mortgage?
Monthly mortgage payment = $. 92120.46
DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed.

f) How much will you actually pay for the home over 30 years including the down payment?
Hint: Don't forget about the down payment!
Total amount paid for vacation home = $.  38163364.43
DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed.

g) How much of what you paid was interest?
Amount of interest paid = $. 13163364.43
DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed.

Answer 1

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I have used excel. need help with financial calculator or formula, let me know. Thank you

PV, FV, ANNUITY (Autosaved) - Microsoft Excel (Product Activation Failed) Review View Add-Ins Formulas Data - 2x Σ AutoSum : A 11 A = = = V General File Home Insert Page Layout % Cut Calibri Ea Copy Paste Format Painter BIU - D Clipboard Font A A Wrap Text Merge & Center - de & center S $ % , % , so conditional Foresteren insert Delete for . Insert Delete Format Conditional Format Cell Formatting as Table Styles Styles Fill 2 Clear Sort & Filter Editing Find & Select Alignment Number Cells - FV294 FP for FQ FR FS FT FUT EV E W EXFY FZ GA b sale price 25000000 293 294 295 296 297 down payment down payment loan amount 20% 5000000 [25000000 x 20%] 20000000 [25000000 - 5000000] 298 299 300 1.70% 301 30 rate years monthly rate no of months 302 303 304 0.1416667% 360 70959.70 [=PMT(FS302,FS303,-FS298)] PMT 305 Total payment over 30 yrs 25545492.84 (70959.70 x 360] amount of interest paid 5545492.84 [25545492.84 - 20000000] 306 307 308 309 310 311 p CAP STRU VALUE profit margin loan with points LOCK BOX DILUTION DOLLAR COST AVG EXPONPER APR CPI ear FVA pva s2 53 v, fv, annuity ferences STATE56 57 BOU 130% Red 0 0 07:29 30-11-2019 D F -_ IMG ENG B * * 10