Amortization and Income Statements

1. To buy a new house you take out a 25 year mortgage for $300,000. What will your monthly interest rate payments be if the interest rate on your mortgage is 8 percent?
rate (i) =
number of periods (n)=
present value (PV) =$300,000
future value (FV) =$0
type (0 = at end of period) =0
monthly mortgage payment=

2. Prepare a Pro Forma Income Statement
Net Sales =$2,938 COGS=$1,598 SG&A=$475 Depreciation=45 Interest Exp=$32 Tax=15%

Show in Excel the following:
Net Sales
Cost Of Goods Sold
Gross Profit
Selling & Admin Exp
Interest Exp
Income Before Taxes
Income Taxes
Net Profit

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...d of period) = 0

monthly mortgage payment = $28,103.03

(Use PMT=(8%,25,-300000,0,0) in Excel)

Net ...