Problem 2 (25 points) You have just purchased a new condo and financed this purchase with a 20-year mortgage that requires a 15% downpayment for the house. The loan is to be repaid in equal quarterly installments. The EAR on this mortgage is 6.6% and your quarterly payment is $2,000. What is the price of the apartment and the APR? Show all calculations. To find the price of the appartment, you first need to find the amount of the loan. To get full credit, you need to find the amount of the loan in three different ways: 1) using the built-in Excel function 2) using the annuity formula 3) discounting each mortgage payment separately