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You are planning to purchase a house that costs 600 000 4.5% on a 30-year mortgage. You plan to put 20% down and borrow the remainder. Based on your credit score, you believe that you will pay 1. Use function "PMT" to calculate your mortgage payment. House costs Down payment PV of loan (P) #ofperiods (7) Periodic interest rate (r) Payment amount (pm) 2. Use function "PV" to calculate the loan amount given a payment of $2,000 per month. What is the most that you can borrow? Payment amount (pmt) # of periods (T) Periodic interest rate (r) PV of loan (PV) - 3. Use function "RATE" to calculate the interest rate given a payment of $2,200 and a loan amount of S500,000. PV of loan (P) Payment amount (pmt) # of periods (T) Periodic interest rate () APR 4. For each scenario, calculate the total interest that you will have paid once the mortgage is paid oft. (There is not a function for this, enter the formula inteo the cell.) PV of Loan (principle) Total Payments Total Interests Scenario1 Scenario 2 Scenario 3 5. For each scenario, calculate the total cost of the home purchase. (Down payment plus principle (loan amount) plus interest.) Down Payments Total Payments Total costs