You decided to buy a house that is sold for 100000 dollars in cash.

The person you are buying the house from tells you that you can make a quarter of the payment now, and the other part of the payment in 5 annual installments with an interest rate of 15%.

Transcribed image text: a) Please show the situation after the initial payment, in timeline and equation form. (10 pts) b) What is the amount of each payment? Please calculate in excel. Write the excel formula. (5 pts) c) Fill in the amortization table below. (10 pts) Period Annual Installment Annual Interest Payment Annual Principal Payment Remaining Debt 1 2 3 4 5