The accompanying Homeownership spreadsheet contains a partially completed spreadsheet model for computing the monthly costs of home ownership. Complete the spreadsheet model by inserting the formulas for monthly mortgage payment, monthly property tax, monthly homeowner insurance premium, monthly maintenance costs , and total in the appropriate cells. Variables: House value: $ 450,000.00 Interest rate: 4.25% Down payment (% of house value): 20% Number of years: 30 Property tax rate: 1.25% Annual homeowner insurance premium: $ 1,400.00 Maintenance cost rate (% of house value): 1% Monthly Cost of Home Ownership Monthly mortgage payment: Monthly property tax: Monthly homeower insurance premium: Monthly maintenance costs: Total: 1. Is this a deterministic or stochastic model? 2. Which of the following is NOT an input of the spreadsheet model? A. Interest rate B. Monthly mortgage payment C. Number of years of the loan D. Annual maintenance cost rate 3. What is the monthly total of home ownership using the assumptions stated in the spreadsheet? Note: Round your answer to 2 decimal places. 4. How much does the monthly total of home ownership increase if the owner decides to get a 15-year mortgage instead of a 30-year mortgage? Note: Round your answer to 2 decimal places.
Types of Loop
Loops are the elements of programming in which a part of code is repeated a particular number of times. Loop executes the series of statements many times till the conditional statement becomes false.
Loops
Any task which is repeated more than one time is called a loop. Basically, loops can be divided into three types as while, do-while and for loop. There are so many programming languages like C, C++, JAVA, PYTHON, and many more where looping statements can be used for repetitive execution.
While Loop
Loop is a feature in the programming language. It helps us to execute a set of instructions regularly. The block of code executes until some conditions provided within that Loop are true.
The accompanying Homeownership spreadsheet contains a partially completed spreadsheet model for computing the monthly costs of home ownership. Complete the spreadsheet model by inserting the formulas for monthly mortgage payment, monthly property tax, monthly homeowner insurance premium, monthly maintenance costs , and total in the appropriate cells.
| Variables: | |
| House value: | $ 450,000.00 |
| Interest rate: | 4.25% |
| Down payment (% of house value): | 20% |
| Number of years: | 30 |
| Property tax rate: | 1.25% |
| Annual homeowner insurance premium: | $ 1,400.00 |
| Maintenance cost rate (% of house value): | 1% |
| Monthly Cost of Home Ownership | |
| Monthly mortgage payment: | |
| Monthly property tax: | |
| Monthly homeower insurance premium: | |
| Monthly maintenance costs: | |
| Total: |
1. Is this a deterministic or stochastic model?
2. Which of the following is NOT an input of the spreadsheet model?
3. What is the monthly total of home ownership using the assumptions stated in the spreadsheet?
Note: Round your answer to 2 decimal places.
4. How much does the monthly total of home ownership increase if the owner decides to get a 15-year mortgage instead of a 30-year mortgage?
Note: Round your answer to 2 decimal places.
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