Calculate the monthly mortgage payment of principal

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Reference no: EM131892410

Calculate the monthly mortgage payment of principal and interest for a loan with an initial balance of $250,000, an annual stated interest rate of 5%, and 30 years to maturity

Use the structure of problem 1 to develop a summary table that shows how the monthly payment would adjust for all options with an interest rate at 4%, 5%, and 6% as well as a maturity at 15 years, 20 years, and 30 years.

Assume that you want to retire in 30 years. You intend to invest $500 per month into a mutual fund that you expect to return 8% per year. If you continue making these monthly investments for 30 years, what amount of money will you have at the end of the 30th year?

Use problem 3 to develop a summary table that shows the accumulation for all options with an assumed return of 6%, 7%, 8%, 10%, and 12% as well as an investment of $100, $500, and $750.

Reference no: EM131892410

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