Question: please explain each step clearly & precisely. You plan to buy a house in December 2021. The sale price is $578,000. You need to pay

please explain each step clearly & precisely.

You plan to buy a house in December 2021. The sale price is $578,000. You need to pay 20% down payments and borrow the additional 80% from Bank of America with a 30-year, 3.6% fixed-rate mortgage loan. You need to pay an equal MONTHLY payment starting from January 1, 2022 for a total of 30 years. (1) Calculate your expected monthly mortgage payment. (2) Develop the full amortization table for your mortgage loan. (3) When you prepare your 2022 tax filing, what is the total mortgage interest payment that you can consider for the tax deduction

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