what's going on? · notes,whiteboard,whiteboard page,notebook...
TRANSCRIPT
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Mortgages and Amortization May 09, 2014
What's Going On?
Learning Goal I will be able to solve problems involving mortgages and will be able to work with amortization tables.
What's a Mortgage?
Amortization Tables and Your First House
Practice!
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Mortgages and Amortization May 09, 2014
What's a Mortgage?
Mortgage
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Mortgages and Amortization May 09, 2014
What's a Mortgage?
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Mortgages and Amortization May 09, 2014
What's a Mortgage?
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Mortgages and Amortization May 09, 2014
What's a Mortgage?
N =
I% =
PV =
PMT =
FV =
P/Y =
C/Y =
Total number of mortgage payments.
Interest rate.
Original amount of the loan. (value of house down payment)
Regular payment amount.
0 do not use
Number of payments per year. (often 12)
Compounding periods per year. (2)
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Mortgages and Amortization May 09, 2014
Amortization Tables
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Mortgages and Amortization May 09, 2014
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Mortgages and Amortization May 09, 2014
6827.53
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Mortgages and Amortization May 09, 2014
20877.47
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Mortgages and Amortization May 09, 2014
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Mortgages and Amortization May 09, 2014
Your First House
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Mortgages and Amortization May 09, 2014
Your First House
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Mortgages and Amortization May 09, 2014
Your First House
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Mortgages and Amortization May 09, 2014
Your First House
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Mortgages and Amortization May 09, 2014
Your First House
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Mortgages and Amortization May 09, 2014
Your First House
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Mortgages and Amortization May 09, 2014
Your First House
Subtract the amount paid on the principal from the initial value of the mortgage.
242,250 26,225.49
= 216,024.51
There is still $216,024.51 owing on the house.
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Mortgages and Amortization May 09, 2014
Your First House
Value = 255,000(1 + 0.05)5
= 325,451.80
The value of the house $325,451.80 after 5 years assuming a 5% appreciation rate.
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Mortgages and Amortization May 09, 2014
Practice It!
Mortgages and Amortization
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