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please answer in Excel. Assignment#1 Loan Amortization You are thinking of purchasing a house. The house costs $350,000. You have $50,000 in cash that you

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please answer in Excel.
Assignment#1 Loan Amortization You are thinking of purchasing a house. The house costs $350,000. You have $50,000 in cash that you can use as a down payment on the house, but you need to borrow rest of the purchase price. The bank is offering a 20-year mortgage that requires monthly payments and has an annual interest rate of 6% per year. What will be your monthly payments if you sign up for this mortgage? Draw the amortization schedule on a monthly basis using Excel. Calculate the total amount of interest paid throughout the life of the loan. Create a graph depicting the changes in the portions of interest and principal for each monthly payment throughout the life of the loan

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