 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000! o2 b: Y- k8 B8 F- @/ ]
10% down payment
( z! b1 P' f4 w 25 years mortgage (25 * 12 = 300 months)3 F, X; b0 f# r" ~/ C& [
rate 5.24# ]/ K \1 k+ c9 f/ z' k L h
7 @2 \& H1 j6 ?2 m, P3 X% F1.effective rate 0.43197466
: }2 [& M8 b/ ?2 T/ _ in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly.
- ~* r4 r7 C1 S7 ]. ]8 u 1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.43197466& Y9 s _% L" T0 g) ]' O% ~6 Z+ m
2.Adjusted mortgage balance5 ~1 E; t/ |% n P: r3 R
300,000 * 10% = 30,000 downpayment, Q" P' J& I3 w
300,000-30,000 = 270,000 mortgage requried4 i* i0 a p7 D
270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)
; k! Y3 K: I; i$ }5 }, U 270,000 * 2% = 5,400' k$ d' W- ]. W& o# c2 v; h) i* D
adjusted mortgage balance: 270,000 + 5,400 = 275,400
& Y, {8 ]% z0 R' E0 K3 u3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment
3 T9 t3 {3 C* D0 O+ L1 e4. 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