Scenario $2$: House Purchase

You have decided to purchase a house. Research the cost of a house in a location of your choosing. Then, create an Excel worksheet that contains the following:

House Cost

Interest Rate

Length of Loan $($in years$)$

Monthly Payment

Using a formula, calculate the monthly payment at $1\mathrm{.}75\%$ for $10$ years.

Using the current interest rates provided below, create a scenario summary to see what your monthly payment would be if you increased the length of your loan.

$\backslash$table$[[$Current Interest Rates$],[$Interest Rate,Length of Loan $($in years$)],[1\mathrm{.}75\%,10],[2\mathrm{.}25\%,15],[2\mathrm{.}75\%,20],[3\mathrm{.}25\%,30]]$

Assume you can afford $$750$ per month at $3\mathrm{.}25\%$ for $30$ years. Use Goal Seek to determine the maximum cost of your house.

Using data obtained from your scenario summary, create a column chart as a new worksheet to depict the monthly payment for each loan term.

Be certain to apply formatting $($e$.$g$.$ cell styles$)$ and insert a graphic for visual appeal.

I NEED ALL STEPS TO COMPLETE THIS