Question: please answer 6,7,8 please based on question 5 thabk you show work 5. Suppose you are buying your first house for 5350,000.00 and are making

5. Suppose you are buying your first house for 5350,000.00 and are making a 20% down payment. You have anranged to finance the remaining amount with a 30 -year monthly payment amortized mortgage at a 5.75% nominal interest rate. What will your monthly Payments be? a. 91,634.00 b. 51,900.88 c. 51,255.93 d. 51,96270 c. 9,024.02 6. What is the estimated payofi on the mortgage question above after you have made monthly payments for 10 years? Show how you obtained the mortgago balance using Brcel and the belance. 7. How much in mortgage interest would you have to pay over the 30 years of the mortgage life? Also, what is the total amount (of principal and interest) paid on the mortgago? Show bow you obtained your answers using Excel or financial calculator. a. $385,301.80;9665,30180 b. 5308,241,44,5588,241.M4 c. 5385,301.80;5735,301.80 A. 530824144256584144 8. Based on the information of Q5, suppose the bank ofiers you an APR of 4.75% with 1.5% points on this mortgage. Wonld you accept this option if you plan to upgrade to a better home after 7 years of living in your $350,000 house? Show your work
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