Excel File Edit View Insert Format Tools Data Window Help Group Assi .2-..F-@ 100% Formulas Data Review Home Layout Tables Charts SmartArt Calibri (Body) abc Wrap TextGener Fill aste CrBI U 172 2 Please show formulas and calculations 411) Investor Baxter takes out a 30-year mortgage loan for $250,000 with an interest rate of 5% and monthly s payments, What portion of his first month's payment would be applied to interest? 20 21 22 2) Mr. Edwards takes out a 30-year mortgage loan for $100,000 with an interest rate of 6% plus 4 points. 23 What is the effective annual interest rate on the loan if he carried the loan for all 30 years? 25 26 27 28 29 30 3) Sara found a great deal on a small complex. She went to Suntrust bank for a loan. She got qualified 31 for a 30-year mortgage loan for $200,000 with an interest rate of 6% and monthly payments. 32 If she wants to pay off the loan after 8 years, what would be the outstanding balance on the loan? 34 35 36 4) At the end of 8 years, your friend wants to have $50,000 saved for a down payment on a house 3 7 1 He expects to earn 8%--compounded monthly-on his investments over the next 8 years. 38 How much would your friend have to put in his investment account each month to reach his goal? 39 40 41 42 43