Please include an excel spreadsheet and all equations used. The monthly payment for question 1, part a that they mention in part C of this question is $2,090.19.

Question 2. Suppose the mortgage lender from Question 1 also tells you that if you are willing to pay two points, they can offer you a lower rate of 3.65% APR for a 30-year fixed rate mortgage. One point is equal to 1.00% of the loan value. . (a.) What is the total amount you would have to pay (i.e. the two points) to get the lower interest rate? . (b.) Suppose you borrowed the amount necessary to get the points from the bank. Calculate what your new monthly payment would be. - Hint: Understand what is happening here...you are borrowing more money from the bank, but you are paying a lower interest rate on that money. (c.) Compare your answer to part (b.) to they payment you found in Question 1, part (a.). Is it worth it to take the points? Briefly explain why or why not. Question 2. Suppose the mortgage lender from Question 1 also tells you that if you are willing to pay two points, they can offer you a lower rate of 3.65% APR for a 30-year fixed rate mortgage. One point is equal to 1.00% of the loan value. . (a.) What is the total amount you would have to pay (i.e. the two points) to get the lower interest rate? . (b.) Suppose you borrowed the amount necessary to get the points from the bank. Calculate what your new monthly payment would be. - Hint: Understand what is happening here...you are borrowing more money from the bank, but you are paying a lower interest rate on that money. (c.) Compare your answer to part (b.) to they payment you found in Question 1, part (a.). Is it worth it to take the points? Briefly explain why or why not