CHAPTER 17 LECTURE - MIT OpenCourseWare

Constant Payment Mortgage (CPM) 0 2000 4000 6000 8000 10000 12000 14000 1 61 121 181 241 301 PMT Number $ PMT INT Then use “Rules” to derive other columns. =PMT(.01,360,1000000) In Excel, set: Use Annuity Formula to determine constant PMT Calculator: 360 = N 12 = I/yr 1000000 = PV 0 = FV Cpt PMT = 10,286 “The Classic”! ................
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