Begin by filling down the values $1$ to $360$ in your Month column. You purchase a home for $$115000$ but you pay $$23000$ down in cash and finance the balance for $30$ years at $6\mathrm{.}5\%$ compounded monthly $.$ Your monthly payments are $$581\mathrm{.}51.$ Set up the spreadsheet to display the outstanding balance for each month for $30$ years. As a checkpoint, you should get $$91147\mathrm{.}66$ just after your $10$th payment. Hint: When doing your interest column, remember to use the format $=$P$*$R$*$T$,$ with time being $(1/12)$ since it is monthly.

How much is still owed on the loan just after $110$ payments. $

Just after the $110$ payment, how much has been paid in interest?

What is the owner's equity just after the $110$ payment? $ Find the size of the last payment. $

How much interest in total did you spend on the house? $

For the $30$ year option, at which payment does more of the payment go to principal than to interest?

Now save the first part of your spreadsheet by going to File then Save.

$($b$)$If you decided to get a $15$ year loan instead of a $30$ year loan the payments will be $$801\mathrm{.}42.$ Your interest rate is still $6\mathrm{.}5\%$ compounded monthly. Set up your spreadsheet to display the outstanding balance for each month for $15$ years $($If you still have the first part of the problem up$,$ you will need to change both your Payments value and delete months $181-360).$ As a checkpoint, you should get $$88894\mathrm{.}18$ after your tenth payment.

How much is still owed on the loan just after $60$ payments. $

Find the size of the last payment. $

How much interest in total did you spend on the house? $

For the $15$ year option, at which payment does more of the payment go to principal then to interest?

Determine the total amount of interest saved on the loan by getting a $15$ year loan instead of a $30$ year loan.

$ PLEASE USE AN EXCEL OR GOOGLE SHEET FOR THIS AND GIVE EXACT ANSWERS $!!!$