Carlos is considering purchasing a new home. His banker has presented a 15-year mortgage at a fixed rate of 5.4%. The cost of the home is $152000 and Carlos will be required to provide a 20% down payment. If we use Excel to determine his monthly payment, which of the following Excel commands could be used to determine his payment? (Choose all that apply!) A. =PMT(0.054/12,15*12,-$121600) B. =PMT(0.054/12,180,-152000+30400) C. =PMT(5.4/12,12*15,-121600) D. =PMT(5.4,15,-152000)
Carlos is considering purchasing a new home. His banker has presented a 15-year mortgage at a fixed rate of 5.4%. The cost of the home is $152000 and Carlos will be required to provide a 20% down payment. If we use Excel to determine his monthly payment, which of the following Excel commands could be used to determine his payment? (Choose all that apply!) A. =PMT(0.054/12,15*12,-$121600) B. =PMT(0.054/12,180,-152000+30400) C. =PMT(5.4/12,12*15,-121600) D. =PMT(5.4,15,-152000)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Carlos is considering purchasing a new home. His banker has presented a 15-year mortgage at a
fixed rate of 5.4%. The cost of the home is $152000 and Carlos will be required to provide a 20%
down payment. If we use Excel to determine his monthly payment, which of the following Excel
commands could be used to determine his payment? (Choose all that apply!)
A. =PMT(0.054/12,15*12,-$121600)
B. =PMT(0.054/12,180,-152000+30400)
C. =PMT(5.4/12,12*15,-121600)
D. =PMT(5.4,15,-152000)
E. =PMT(5.4%/12,12*15,-121600)
F. =PMT(0.054/12,180,-121600)
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