You are ready to buy a house and you have $75,000 for a down payment and closing costs. Closing costs are estimated to be 4.5% of the loan value. You have an annual salary of $115,000. The bank is willing to allow your monthly mortgage payment to be equal to 25% of your monthly income. The annual percentage rate on the loan is 6.5% per year with monthly compounding for a 15-year fixed rate loan. How much money will the bank loan you? How much can you offer for the house? How does your answer change if the interest rate falls to 4%? PLEASE DEMONSTRATE IN EXCEL. SHOW FORMULAS/CALCULATIONS.