One of the most challenging American Dream is to own a house. Which not only requires...

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One of the most challenging American Dream is to own a house. Which not only requires strong Credit scores but also significant amount of cash to have better long term investment. This time I like to see you compare two individuals position towards to achieve their American Dream. Individual I: Looking for a 1 - family house with no more than $500,000 and the bank he/she contacted offered 2.6% interest compounded monthly for total of $360,000 loan after the down payment for 30 years. Individual II: Looking for a 1 - family house as well but no more than $400,000. The bank he/she contacted offered same 2.6% interest compounded monthly for $360,000 after the down payment for 20 years. Find the monthly payment of both buyers them calculate how much interest each individual paid over their loan period. Who do you think had better strategy and why? What makes you think an individual should or should not buy a house? Finally, construct the amortization schedule for one of the loan (20 years or 30 years) using Excel. Identify when does the given Amortization schedule has paid 15% of his/her total loan and what is the last monthly payment of that loan. One of the most challenging American Dream is to own a house. Which not only requires strong Credit scores but also significant amount of cash to have better long term investment. This time I like to see you compare two individuals position towards to achieve their American Dream. Individual I: Looking for a 1 - family house with no more than $500,000 and the bank he/she contacted offered 2.6% interest compounded monthly for total of $360,000 loan after the down payment for 30 years. Individual II: Looking for a 1 - family house as well but no more than $400,000. The bank he/she contacted offered same 2.6% interest compounded monthly for $360,000 after the down payment for 20 years. Find the monthly payment of both buyers them calculate how much interest each individual paid over their loan period. Who do you think had better strategy and why? What makes you think an individual should or should not buy a house? Finally, construct the amortization schedule for one of the loan (20 years or 30 years) using Excel. Identify when does the given Amortization schedule has paid 15% of his/her total loan and what is the last monthly payment of that loan.