7. (20 points total.) "Balloons." You would like to buy a $800,000 house with a $300,000 down payment. However, you can only afford to pay $2,500 a month. a. (5 points.) If you can only pay $2,500 a month, and APR=8%, how many months would the mortgage need to be structured for? (Hint: Use an amortization schedule in Excel to show what is going on with your mortgage's balance each month.) b. ( 5 points.) If you would like to pay off the mortgage in 30 years, how much would you have to pay per month at an APR=8% ? 4 c. (10 points.) Suppose you convinced your lender to allow you to pay $2,500 a month for 30 years and make one final "balloon" payment to zero out the remaining account balance in year 30 . How much woud your final balloon payment need to be if your outstanding monthly debts accrue at 8% APR