Question: can you please answer this question on the excel sheet Question 1 Constant Payment Mortgage (30 points) - Create an amortization schedule and answer the

can you please answer this question on the excel sheet

Question 1 Constant Payment Mortgage (30 points) - Create an amortization schedule and answer the following questions for a $750,000 15-year fixed-rate, constant-payment mortgage that is partially amortizing with a balloon payment of $150,000. The contract interest rate is 3.50% with monthly payments. Up-front fees on the loan equal 2.0% and there is no pre-payment penalty. a.) What is the annual percentage rate (APR) for the loan? b.) What is the effective interest rate (EIR) on the loan if prepaid at the end of year 7? c.) What is the ER if the loan is prepaid at the end of year 7 and there is a 2% prepayment penalty? (Hint: the prepayment penalty is 2% of the remaining balance) Excel File El View Insert for TOO B Ime Page La Formules Date FINALHIN 1 Terte Spring 2022 Currency Times New NE Tumra MacBook Air % 6 3 4 0? WR Q w E R T S D F G G N N Z V B

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