please answer on excel
Part II You want to determine whether or not you should save some of your money and put only 10% down on your house. Because you are only putting 10% down, lenders require that you purchase private mortgage insurance (PMI). Assume that PMI is 1% of the mortgage amount. (How does PMI work? For example, on a $100,000 loan, 1% PMI means you are paying and additional $1,000 a year or $83.33 a month) 5. Calculate your total monthly payment (mortgage payment plus PMI). 6. Calculate the total cost of the home purchase. (Down payment plus principle (loan amount) plus interest.) 7. Calculate how much interest and PMI you will pay in total? Due: November 4, 2019 8. What are the advantage und disadvantages between 20% down payment vs. 10% down payment and PMI? Which one do you pick? Please explain. YFor this question, include a Memo that summarizes your analysis and outcomes in Excel.) Part II You want to determine whether or not you should save some of your money and put only 10% down on your house. Because you are only putting 10% down, lenders require that you purchase private mortgage insurance (PMI). Assume that PMI is 1% of the mortgage amount. (How does PMI work? For example, on a $100,000 loan, 1% PMI means you are paying and additional $1,000 a year or $83.33 a month) 5. Calculate your total monthly payment (mortgage payment plus PMI). 6. Calculate the total cost of the home purchase. (Down payment plus principle (loan amount) plus interest.) 7. Calculate how much interest and PMI you will pay in total? Due: November 4, 2019 8. What are the advantage und disadvantages between 20% down payment vs. 10% down payment and PMI? Which one do you pick? Please explain. YFor this question, include a Memo that summarizes your analysis and outcomes in Excel.)