Case 2. Mortgage

a) Assume mortgage payments of $1100 per month for 30 years and an interest rate of 0.5% per month. What initial principal or PW will this repay?

b) Assume annual mortgage payments of $13,200 for 30 years and an interest rate of 6% per year. What initial principal or PW will this repay?

c) Assume annual mortgage payments of $13,200 for 30 years and an interest rate of 6.168% per year. What initial principal or PW will this repay?

To-Do: MS Excel Tables (those also have to be turned in!) Graphs: For each case (car/mortgage) at least one graph, which you can use to back up your discussion. For example, plot the interest payment + principal payment + balance. Discussion of results: Minimum 250 words for each case (car/mortgage). Answer the questions: Why do the values from a), b), and c) differ? What else have you learned? Submit one MS Excel document with your calculations and one MS Word document with your discussion and the graphs. Therefore you have to upload TWO documents!

***i do not have too much experience with excel so if this can please be shown with that!! Please and thank you!! With the excel formulae as well please!