You just acquired a house and based on the mortgage term, Financial Management

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You just acquired a house and based on the mortgage term

You just acquired a house and based on the mortgage term you will pay $13,306.05 per month for 30 consecutive years. You will assume the following:

a) The contractual annual rate is 7%

b) The Bank required a 20% down payment

Questions to answer (Calculate the Value of the House by answering the questions below):

(1) What is the present value of all the mortgage payments?

(2) Calculate the value of the House

(3) Calculate the Value of the Down Payment

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Financial Management: You just acquired a house and based on the mortgage term

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Financial Management: You just acquired a house and based on the mortgage term

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