You may submit in a Word or Excel file. You may use formulas, financial calculators, or Excel to perform the calculations. If you use a financial calculator, document the inputs used to arrive at the answer (e.g., N=3, I/Yr=5, PV=-100, PMT=0). If you use an Excel spreadsheet, submit your Excel file. If you use formulas, show your calculations.,11. Suppose you are buying your first condo for $145,000, and you will make a $15,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be?
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