i need this problem worked in excel
John Doe has just been offered a home loan towards purchase of house that is being sold for $230,000. He will be required to make a 10% down payment, as well as mortgage processing fees and closing costs of $5,000. The loan has to be paid off in monthly payments over a 30-year period at a fixed interest rate of 7% per year compounded monthly. He will also be required to pay an additional $138 per month as mortgage insurance. Using Excel, answer the following questions: (n) The monthly mortgage payment is $enter as a positive number to the nearest dotor) (b) The total monthly payment is $conter as a positivo number to the nearest dolar) (c) The nominal APRIS (to the nearest 2 decimal places) The effective APR is % (to the nearest 2 decimal places) (d) Over the 30-year period, the total amount of interest paid on the loan is $ center as a positive number to the nearest dollar). (e) The interest amount in the month 54 payment is s (enter as a positive number to the nearest dollar) The principal amount in the month 54 payment is (enter as a positive number to the nearest dolar) The balance on the loan immediately after making the payment at the end of month 54 is $enter as a positive number to the nearest dollar) UIUIU pry na prodrom. John Doe has just been offered a home loan towards purchase of house that is being sold for $240,000. He will be required to make a 10% down payment, as well as mortgage processing fees and closing costs of $4,000. The loan has to be paid off in monthly payments over a 30-year period at a fixed interest rate of 6% per year compounded monthly. He will also be required to pay an additional $144 per month as mortgage Insurance. Using Excel, answer the following questions (a) The monthly mortgage payment is $ (enter as a positive number to the nearest dollar) (b) The total monthly payment is $enter as a positive number to the nearest dollar) (c) The nominal APR is % (to the nearest 2 decimal places) The effective APRIS% to the nearest 2 decimal places) (d) Over the 30-year period, the total amount of interest paid on the loan is $enter as a positive number to the nearest dollar). (e) The interest amount in the month 63 payment is (enter as a positive number to the nearest dollar) The principal amount in the month 63 payment is (enter as a positive number to the nearest dollar) (The balance on the loan immediately after making the payment at the end of month 3 is $enter as a positive number to the nearest dolar) John Doe has just been offered a home loan towards purchase of house that is being sold for $230,000. He will be required to make a 10% down payment, as well as mortgage processing fees and closing costs of $5,000. The loan has to be paid off in monthly payments over a 30-year period at a fixed interest rate of 7% per year compounded monthly. He will also be required to pay an additional $138 per month as mortgage insurance. Using Excel, answer the following questions: (n) The monthly mortgage payment is $enter as a positive number to the nearest dotor) (b) The total monthly payment is $conter as a positivo number to the nearest dolar) (c) The nominal APRIS (to the nearest 2 decimal places) The effective APR is % (to the nearest 2 decimal places) (d) Over the 30-year period, the total amount of interest paid on the loan is $ center as a positive number to the nearest dollar). (e) The interest amount in the month 54 payment is s (enter as a positive number to the nearest dollar) The principal amount in the month 54 payment is (enter as a positive number to the nearest dolar) The balance on the loan immediately after making the payment at the end of month 54 is $enter as a positive number to the nearest dollar) UIUIU pry na prodrom. John Doe has just been offered a home loan towards purchase of house that is being sold for $240,000. He will be required to make a 10% down payment, as well as mortgage processing fees and closing costs of $4,000. The loan has to be paid off in monthly payments over a 30-year period at a fixed interest rate of 6% per year compounded monthly. He will also be required to pay an additional $144 per month as mortgage Insurance. Using Excel, answer the following questions (a) The monthly mortgage payment is $ (enter as a positive number to the nearest dollar) (b) The total monthly payment is $enter as a positive number to the nearest dollar) (c) The nominal APR is % (to the nearest 2 decimal places) The effective APRIS% to the nearest 2 decimal places) (d) Over the 30-year period, the total amount of interest paid on the loan is $enter as a positive number to the nearest dollar). (e) The interest amount in the month 63 payment is (enter as a positive number to the nearest dollar) The principal amount in the month 63 payment is (enter as a positive number to the nearest dollar) (The balance on the loan immediately after making the payment at the end of month 3 is $enter as a positive number to the nearest dolar)
