ࡱ> @ > bjbjFF "",,;nnnnR R R R f <32 ^ $eR|nn    n8      ΃̎R /(03,3W3$nnnn3, D R R Monthly Payment Formula Worksheet Name _____________________________________ 1. Lowest interest rate (r) for a 15 year term mortgage. ________________ n = 180 2. Price of the home. __________________________ 3. Amount borrowed P = Price of the home % down payment * price of the home. ____________________ 4.  EMBED Equation.3  (round to 6 decimal places) _________________________________________________ 5. Calculate the payment R by using the following formula:  EMBED Equation.3  6. Lowest interest rate (r) for a 30 year term mortgage. ________________ n = 360 7. Price of the home from step 2. __________________________ 8. Amount borrowed P = Price of the home % down payment * price of the home. ____________________ 9.  EMBED Equation.3  (round to 6 decimal places) _________________________________________________ 10. Calculate the payment R by using the following formula:  EMBED Equation.3  11. Use the table to summarize your information. Summary 15 year term30 year term n = 180 months n = 360 monthsP = amount borrowed  EMBED Equation.3  round to 6 decimal places R = payment  Calculate the difference in the payment between the 15 and 30 year term mortgages. Are the differences in payments what you expected? Explain. jkE F Y Z [ \ ^ " # T U r ~    " n  ާhlhl56CJ aJ hljh 3EHUjh 3EHUhaGj h 3EHUjtF h 3CJUVaJ h 3CJjh 3EHUjdF h 3CJUVaJjh 3U h 36]h 35"#NOP= > ? @ A         S \ ] ; = ]     o p     !!!    $&`#$/If$a$gdl    ! # 1 2 A B Z [ n o p q r 6 ; < > hQQf hlh 3 h 3CJj h 3EHUjdF h 3CJUVaJjh 3U h 36] h 3CJh 3hlh 356CJ aJ   ! 0 1 @ qd d d d d  $&`#$/Ifkd $$IflF@ X    6`06    4 la@ A U V W X Y qYd d d d d  $&`#$/Ifkd $$IflF@ X    6`06    4 laY Z r qd d v:d d d  $&`#$/Ifkdr $$IflF@ X    6`06    4 la q d d d d d d  $&`#$/Ifkd> $$IflF@ X    6`06    4 la 6 7 8 9 : ; < = > q4 oj!o!o!o!o!o!ooo!gd 3kd $$IflF@ X    6`06    4 la 1h/ =!"#$% Dd lJ  C A? "2r F-v*T^D`!Vr F-v*T& d$xcdd``f 2 ĜL0##0KQ* WYERcgbR vf@ UXRY T,@1[Ʌ 1DFz&br<+_Sj&#.#f& c$<&0nn&&"#?I4n+ssr7&l`qAC ]=xbdbR ,.I񸠡 r.?1zUmDd +J  C A? "2Ue{S&Kd`!Ue{S&K6 @Mqxcdd``$d@9`,&FF(`TɁ A?d@~0@0&dT20|`b e-t 8Aͤr؅,L ! ~ Ay W1#XLF]F\ϙ.rd*!5#<&0ndf#vJ?L~H>(Bܤrf\'?ffGG B; 9f/I̫ W7ϱp)&<4qS!=tĤ\Y\ qAS(p 3X.l Dd lJ  C A? "2r F-v*T^`!Vr F-v*T& d$xcdd``f 2 ĜL0##0KQ* WYERcgbR vf@ UXRY T,@1[Ʌ 1DFz&br<+_Sj&#.#f& c$<&0nn&&"#?I4n+ssr7&l`qAC ]=xbdbR ,.I񸠡 r.?1zUmDd +J  C A? "2Ue{S&K`!Ue{S&K6 @Mqxcdd``$d@9`,&FF(`TɁ A?d@~0@0&dT20|`b e-t 8Aͤr؅,L ! ~ Ay W1#XLF]F\ϙ.rd*!5#<&0ndf#vJ?L~H>(Bܤrf\'?ffGG B; 9f/I̫ W7ϱp)&<4qS!=tĤ\Y\ qAS(p 3X.l$$If!vh5 5 5 #v #v :V l 6`065 5 4$$If!vh5 5 5 #v #v :V l 6`065 5 4$$If!vh5 5 5 #v #v :V l 6`065 5 4 Dd lJ  C A? "2r F-v*T^b `!Vr F-v*T& d$xcdd``f 2 ĜL0##0KQ* WYERcgbR vf@ UXRY T,@1[Ʌ 1DFz&br<+_Sj&#.#f& c$<&0nn&&"#?I4n+ssr7&l`qAC ]=xbdbR ,.I񸠡 r.?1zU$$If!vh5 5 5 #v #v :V l 6`065 5 4$$If!vh5 5 5 #v #v :V l 6`065 5 4  !"#0%&'()*+,-./Root Entry F?̎Data WordDocument""ObjectPool gQ̎?̎_1183053156F ΃̎ ΃̎Ole CompObjfObjInfo  FMicrosoft Equation 3.0 DS Equation Equation.39q &E i=r12 FMicrosoft Equation 3.0 DS EqEquation Native B_1182010888 F ΃̎ ΃̎Ole CompObj fuation Equation.39qxO< R=Pi1"(1+i) "nOh+'0   < H T`hpx"Monthly Payment Formula WorksheetcrontObjInfo Equation Native  k1Table$CSummaryInformation( Susiey usiusiNormal TLC5CMicrosoft Word 10.0@@pEL@~̎t՜.+,0  hp  None  9: "Monthly Payment Formula Worksheet TitleDocumentSummaryInformation8<CompObjj@@@ NormalCJ_HaJmH sH tH DA@D Default Paragraph FontVi@V  Table Normal :V 44 la (k@(No List 6>@6 Title$a$ 6CJ ]>>" z z>"#NOP=>?@AS\]op !01@AUVWXYZr6789:;<?0000000000000000000000000000000000x000000000000000000000a 0a 0a 0d 0a 0a0a 0a0a 0d 0a0a0a 0a 0a 0d 0a0a0a 0a 0a 0d 0a 0a0a0a0a 0a 0d 000000000 >  ]  @ Y >  = EY[ Znp>:::::l,2$4yS @0(  B S  ?>;?^c"';?::OO>? S[\67:?;?K_hh 88^8`OJQJo(h ^`OJQJo(oh   ^ `OJQJo(h   ^ `OJQJo(h xx^x`OJQJo(oh HH^H`OJQJo(h ^`OJQJo(h ^`OJQJo(oh ^`OJQJo(K_          3aGQQfll 0@AWXYZ?@Df>@UnknownG: Times New Roman5Symbol3& : Arial?5 : Courier New;Wingdings"h䬗 t t !24d99+3QH(?l!Monthly Payment Formula WorksheetSusieTLC   FMicrosoft Word Document MSWordDocWord.Document.89q