The purpose of this project is to help you understand purchasing a home. You will make a 10% down payment to avoid escrow costs and finance the balance over 30 years. Payments and compounding will occur monthly. Round all dollar amounts to the nearest cent. A home that you found in new York city is $55,000,000 a. What is the asking price of home b. What is the mortgage amount (or amount of loan) after 10% down payment. c. Find the current interest rate for your mortgage (from your bank or online). In particular, find the rates for 30-year mortgage. d. If you take a 30-year mortgage, find the monthly payment (must show your work). Then the total payments to repay loan if regular payments are made for the full 30 years (the loan does not include the down payment) (\#of payments times the monthly payment). e. What is the amount of interest paid if the loan goes full term? (Total payments minus the mortgage) f. What happens to all the questions above if you take a loan only for 15 years? g. Amortization Schedule for the 30-year mortgage. Create an amortization schedule excel spread sheet showing the mortgage payments. Attach the schedule to your paper. The amortization schedule must include the following key columns (and calculations): payment number, Mortgage payment, Principle (associated with that payment), Interest (associated with that payment), unpaid balance. Also include a totals row