Consumer math Worksheet Mortgage payment & GDSR ...
Calculate: a) The monthly mortgage payment b) The gross debt services ratio. c) The total interest in the five years. d) The total principal paid in the five years. e) The total mortgage remained after five years. (Using Excel to calculate question c, d, and e.) Solution: a) The monthly mortgage payment. Step1, down payment = $240,000u 20% $48,000 ................
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