O =FV(0.0525/12,12 15,-87500) 12x15 .0525 = 875000 (1+ 12 12x15 .0525 87500 12 0.0525 x 15 x 12 x 87500 12 O =PV(0.0525/12,12 15,-87500) O.-PMT(0.0525/12,12 15,-87500)

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 24PROB
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Question 16
Your friend is going to borrow $87,500 using a 15 year mortgage with a 5.25% APR.
Which of the following could you type into Excel to find her monthly mortgage
payment?
O =FV(0.0525/12,12*15,-87500)
12x15
.0525
= 875000 (1+
12
12x15
.0525
87500
12
O 0.0525
12
x 15 x 12 x 87500
O =PV(0.0525/12,12*15,-87500)
O=PMT(0.0525/12,12 15,-87500)
梦 $
a
brt sc
6
69
bac
近
Transcribed Image Text:Question 16 Your friend is going to borrow $87,500 using a 15 year mortgage with a 5.25% APR. Which of the following could you type into Excel to find her monthly mortgage payment? O =FV(0.0525/12,12*15,-87500) 12x15 .0525 = 875000 (1+ 12 12x15 .0525 87500 12 O 0.0525 12 x 15 x 12 x 87500 O =PV(0.0525/12,12*15,-87500) O=PMT(0.0525/12,12 15,-87500) 梦 $ a brt sc 6 69 bac 近
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