Instructions: Set up an excel spreadsheet to analyze each part of the assignment below You may base your \"excel spreadsheet\" on those we have used in class. Turn your results in to the dropbox. Part 3. Some investment property mortgages are assumable. This means that an investor can assume (take over) the responsibility for an existing mortgage when they acquire a property from a seller. As an illustration of this method of nancing, suppose that our investor is able to take over from the seller of the above-mentioned two unit industrial property a $3, 000, 000 mortgage The mortgage has a remaining term of 25 years. The mortgage has monthly payments of $14,226 34 (based on a 3 percent interest rate) If a $3, 000, 000 xedrate mortgage were to be obtained on the same property, the interest rate for a 25year fully amortizing loan at current market rates would have been 5.5 percent with no points. a. Suppose that our investor expects to benet from the interest savings on the assumable loan for the entire 25-year loan term. Determine the premium our investor w0uld be willing to pay for the opportunity to purchase the two-unit industrial property by taking over the seller's current mortgage. b. How would yom: answer to part (a) change if you assumed that our investor only expects to benet from interest savings for ve years because he would probably sell or renance after ve years