Please this assignment does not need case $1$ because they are different questions. Please show all formulas they were used. Please use excel formulas because it is excel based assignment. Show how Loan amount, Monthly payment and Total interest paid can be calculated from scratch using PMT$.$

Case $2$: Variations in Mortgage Interest

You want to purchase a house and are reviewing variations in how to structure the mortgage.

One of your considerations is how much interest you pay. You need to calculate the total

interest paid for the following scenarios:

$25$ year mortgage at $5\%$ interest with monthly payments $($base case$)$

$25$ year mortgage at $6\%$ interest with monthly payments

$20$ year mortgage at $5\%$ interest with monthly payments

$25$ year mortgage at $5\%$ interest with monthly payments and a $5\%$ down payment

$25$ year mortgage at $5\%$ interest with monthly payments and a $20\%$ down payment

$25$ year mortgage at $5\%$ interest with bi$-$monthly payments $($twice per month$)$

Structure your answer is a way that is easy to understand. The top header row $($row $1)$ should

describe the cases. The left column $($column A$)$ should describe the data that appears in the cell

such as interest rate.

The bottom row should contain the total interest paid for each case.

This should be entered Sheet$2.$

Note: The key function to use in this case is PMT$().$