Using Excel’s pmt function, calculate the monthly payment for your new home and post (along with the link to your subject property) the following 5 figures: 1) Purchase price, 2) Loan amount, 3) Annual interest rate, not APR, 4) Term in months, 5) Monthly payment.

Instructions:

Find a home you would like to buy somewhere in the U.S. (assume you have sufficient funds and financing means). Use Google, Zillow, Realtor.com or another real estate site to find a home. Make sure to include the link for the home in your discussion post so others can view it.

Home Link: https://www.realtor.com/realestateandhomes-detail/121-Sunrise-Dr_Mars-Hill_NC_28754_M98455-00924?from=srp-list-card

For the home you find, assume you will put a 30% down payment on the asking price (disregard closing costs). Look up an approximate interest rate for a 15 or 30 year loan using bankrate.com or a lender website of your choice. Select one (not both) for calculating a monthly payment.

Using Excel’s pmt function, calculate the monthly payment for your new home and post (along with the link to your subject property) the following 5 figures: 1) Purchase price, 2) Loan amount, 3) Annual interest rate, not APR, 4) Term in months, 5) Monthly payment.

Here are the pmt function variables: rate = interest rate divided by 12, for example .06/12; nper = number of months (180 or 360); pv = the loan amount (purchase price minus the 30% down payment).

Last Completed Projects