Vanna has just financed the purchase of a home for $$200,000.$ She agreed to repay the loan by

making equal monthly blended payments of $$3,000$ each at $4\frac{\%}{?}$ a$,$ compounded monthly.

$(2$ marks each$)$

a$.$ Create an amortization table using a Microsoft Excel spreadsheet. In your answer include all

the formulas used.

b$.$ How long will it take to repay the loan?

c$.$ How much will be the final payment?

d$.$ Determine how much interest she will pay for her loan.

e$.$ Use Microsoft Excel to graph the amortization of the loan

f$.$ How much sooner would the loan be paid if she made a $15\%$ down payment?

g$.$ How much would Vanna have saved if she had obtained a loan $3\frac{\%}{?}$ a$,$ compounded monthly?

h$.$ Write a concluding statement about the importance of interest rates and down payments

when taking out loans.