Ann would like to buy a house it costs 800000 her down, Ask an Expert

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Ann would like to buy a house. It costs $800,000. Her down payment will be $40,000. She will take out a mortgage for $760,000. It will be a 30 year, fully amortizing, FRM, with constant monthly payments and monthly compounding. The annual interest rate is 4.00%. She must pay 2.5% in fees at the time of the loan.Note: the home is bought and the loan is taken in month 0, the first payment is due in month 1.

1. Create an amortization schedule

2. Compute Ann’s annualized and monthly IRR for the mortgage in the spreadsheet.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92742716

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