A$.$ You are thinking of purchasing a house that costs $$415,000.$ You have $$35,000$ in cash that you can

use as a down payment, but you need to borrow the rest of the purchase price. Assume there are no

closing costs. The bank is offering a $30-$year mortgage that requires monthly payments and has an

annual interest rate of $4\mathrm{.}15\%$ peryear.

What will your monthly payments be if you sign up for this mortgage?

Fresent the amortization schedule $($Beginning balance, Monthly poyment, Principal poyment,

Interest payment, Ending balance$)$ on a monthly basis using Excel.

Calculate the total amount of interest paid throughout the life of the loan $($sum up the amounts in

the Interest column$).$

Create a graph depicting the changes in the portions of interest and principal for each monthly

payment throughout the life of the lo an$.$