D83 You are planning to purchase a house that costs $480,000. You plan to put 20% down and borrow t the remainder. Based on your credit score, you believe 2 that you will pay 3.99% on a 30-year mortgage. 4 1. Use function "PMT to calculate your mortgage payment. 6 8 House costs Down payment PV of loan (PV) # of periods (T) Periodic interest rate (r) Payment amount (pmt) 10 12 13 2. Use function "PV" to calculate the loan amount given a payment of $1500 per month. What is the most that you can borrow? 14 15 Payment amount (pmt) # of periods (n 161-Periodic interest rate (r) 17 PV of loan (PV) 18 19 0 3. Use function "RATE to calculate the interest rate given a payment of $1500 and a loan amount of $400,000 :2 PV of loan (PV Payment amount (pmt) # of periods ( Periodic interest rate (r) APR 6 4. For each scenario, calculate the total Interest that you will have paid once the mortgage is pald off. (There is not a function for this, enter the formula 8 into the cell.) PV of Loan (principle) Total Payments Total Interests Scenario1 Scenario 2 Scenario 3 5. For each scenario, calculate the total cost of the home purchase. (Down payment plus principle (loan amount) plus interest.) Sheet+