Scenario 2: Use the following data-

1. House 799,900
2. 20% down-payment is made and the remaining amount must be borrowed
3. the rate of interest is 5%
4. payment frequency is 12x a year or monthly
5. the term of the mortgage is 5 years
6. the amortization period is a 25 yearS

Using excel to calculate:

1. your monthly mortgage payments,
2. the amount of interest paid for the term
3. the amount of interest for the amortization period
4. the total cost of your home at the end of the amortization period
5. any savings made due to the down payment