Question: How to answer the following question using excel: You want to buy a house whose price is $100,000. You have enough savings to make 20%

How to answer the following question using excel:

You want to buy a house whose price is $100,000. You have enough savings to make 20% down payment. Your bank offers you a 20-year loan for the remaining amount at 8% p.a. Construct a loan amortization schedule for 8 years for the loan. The loan will be repaid in monthly installments. Also answer the following :

Down Payment

Loan Amount

Loan Balance at the end of year 5

Loan Balance at the end of year 8

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