PLEASE ONLY ONLY HOW TO DO IN EXCEL. NO hard coded formulas.

I will rate.

Benninga). 1. (APR and EAIR) Your local bank has offered you a mortgage of $100,000. There are no points, no origination fees, and no extra initial costs (mean- ing: you get the full $100,000). The mortgage is to be paid back over 10 years in monthly payments, and the bank charges 12% annual interest computed monthly (1%, this rate is "stated" or APR). a. Calculate the monthly mortgage payments. b. What is the mortgage EAIR