THE HOUSE VALUE IS $$545,000$ Assume that you can make $15\%$ down payment on the house $(545,000)$ the annual interest rate is $5\mathrm{.}6\%$ for a $30-$year fixed mortgage with one point paid at the time of closing. Based on the asking price of the house, answer the following questions:

a$)$ What is the amount of the down payment?

b$)$ What is the mortgage amount?

c$)$ What is the cost of one$-$point?

d$)$ Use Excel to calculate the amount of monthly mortgage payment for a $30-$year loan. Check your result using the loans formula and show all your work.

e$)$ Calculate the amount of interest paid with the first monthly payment.

f$)$ Determine how much of the first payment on the mortgage is applied to the principal.

g$)$ What is the total amount paid for the house over $30-$years?

h$)$ Calculate the total interest paid for the $30-$year loan.

Work submitted must include the following:

Save the following in a single pdf file and upload it:

Image of the house specifying the asking price of the house.

Answer to parts a$)$ through c$)$ and parts e$)$ through h$)$ with work and the conclusion written in a complete sentence.

Upload the Excel sheet showing the work for part d$.$