Mortage payments problem set/ questions
fixed-rate mortgage calculator. Use this calculator to complete the following table:
Calculate the monthly payments. Ignore the property taxes and the private mortgage insurance (PMI) by setting them equal to zero if the calculator has entries for these costs.
In a separate word document – 1-2 full paragraphs long (please no references other than the PDF provided) – explain how the changes in the amount of the monthly payments affect the number of years it takes to pay down the loan? How is this relationship affected by the interest rate? Explain why.
Please make sure the links and document open before requesting this assignment. Let me know if you have any issues while completing this ASAP.