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only pt. 3 Solve the following questions in Excel. Use Excel functions where applicable. You will receive no credit if you type in numbers instead
only pt. 3
Solve the following questions in Excel. Use Excel functions where applicable. You will receive no credit if you type in numbers instead of using equations/functions/references in cells other than inputs. You consider purchasing a $250,000 home for which you will be making a 20% down payment and obtaining a mortgage to finance the remaining amount. The mortgage is for 30 years (360 months) and has a fixed nominal annual rate of 3.5 percent, with monthly payments made at the end of months. 1. Fill out the blank blue cells in the Mortgage Input and Basic Output sections. 2. Complete the mortgage amortization schedule. 3. Insert the graphs for: Interest & Principal payments b. Ending balance aStep by Step Solution
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