The accompanying Homeownership spreadsheet contains a partially completed spreadsheet model for computing the monthly costs of home ownership. Complete the spreadsheet model by inserting the formulas for monthly mortgage payment $($B$12),$ monthly property tax $($B$13),$ monthly homeowner insurance premium $($B$14),$ monthly maintenance costs $($B$15),$ and total $($B$16)$ in the appropriate cells.

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a$.$ Is this a deterministic or stochastic model?

Is this a deterministic or stochastic model?

deterministic

ces

b$.$ Which of the following is NOT an input of the spreadsheet model?

Interest rate

Monthly mortgage payment

Number of years of the loan

C$.$ What is the monthly total of home ownership using the assumptions stated in the spreadsheet? Round your answr to $2$ decimal places Monthly total home ownership amount:

D$.$ How much does the monthly total of home ownership increase if the owner decided to get a $15$ year mortgage instead if a $30$ year? Round answer to $2$ decimal places