WinAmort Professional 2.0

Fixed Rate - Example 2

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Fixed Rate - Example 2

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Fixed Rate - Example 2

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Fixed Rate - EXAMPLE 2

Suppose that the Simsons move to Canada and decide to purchase a house. They already know that the maximum payment they can afford is what was computed in the previous example - $1039.49 per month. What they want to know is how large a mortgage they can get with this payment amount..

 

 

SolveSolve The Principal amount.

 

actionWe can use all the data from the first example, except this time we must change

the Compounding frequency to Semi-annually by pressing the arrow key

beside the Compounded field and then selecting the Semi-annually option.

 
See illustration below.

 

Fixed Rate Form - Example 2

After you change the compounding frequency to Semi-Annually,

 

 

Press

 

 

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Compute_button button beside the Principal field to compute the answer.

 

 

The maximum computed principal that they can afford is $87,214.70.

 

Fixed Rate Form Example 2 final

GOTO: NEXT EXAMPLE