 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000
J" e# m9 n/ c; B 10% down payment " [5 l1 L1 D) Y3 b* e' C# Q
25 years mortgage (25 * 12 = 300 months)
' m! C: U6 }8 G/ x8 y+ N# W9 _ rate 5.24
' _& B) ?% U8 P3 T. A
! ~! t+ x* T& T. C4 U: @1.effective rate 0.43197466
6 ?6 F; n" e0 u6 B in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly. ' H$ c- x# c9 X/ o6 W) C
1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.43197466! B, [7 C. G* q9 `
2.Adjusted mortgage balance
9 ]0 _& h* T) | 300,000 * 10% = 30,000 downpayment
; ]( i* }! N( \ L5 H% ~! _9 W 300,000-30,000 = 270,000 mortgage requried. D8 P6 f+ I; N _
270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)4 _+ o' b$ |; V% a
270,000 * 2% = 5,400
5 F! [/ x9 }# E [ adjusted mortgage balance: 270,000 + 5,400 = 275,4005 O4 D) B! i- ?+ S# ~
3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment a/ K) ?3 i9 V3 l5 f* f
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