Mortgage Calculator 1 You are considering buying a house and would like to figure out what your payments will be. Name this worksheet "Mortgage1. Calculate the monthly payments for a 30 year loan in the amount of $250,000 with an annual interest rate of 5%. (Assume that the first payment will be due 1 month from when the loan is obtained.) Your spreadsheet should be flexible, so that you can change any of the inputs and your spreadsheet will automatically calculate the new monthly payment. This spreadsheet should be able to be used by either a bank or a borrower. Therefore when calculating the payment, please use a "neutral" perspective so that your inputs and results are both positive. (Your spreadsheet should not show cash inflows as positive and outflows as negativeall cash flows should be shown as positive values.) Note: For this problem, assume it is unlikely that you will ever change the FV to anything other than 0 (and including an assumption for the FV might confuse the user). Therefore it is okay to enter 0 for the FV argument (or leave that argument blank). Ensure that users of the spreadsheet can only enter valid input for the Payment Type. After selecting the cell containing the Payment Type, an Input Message should appear, describing the difference between the options which can be entered as the Payment type, and allowing users select valid Payment Type options from a drop-down list. If the user attempt to enter an invalid Payment Type, an Error Alert should appear, explaining the options for entering valid Payment Types.

B C Mortgage Calculator 1 $##### 3 Loan Amount (principal) 4 Term (years) 5 Annual Interest Rate Pmts per Year Payment Type #.##% Loan Payment Amount $#.###.##