Question: PLEASE ONLY ONLY HOW TO DO IN EXCEL. NO hard coded formulas. I will rate. 10. (Mortgage + EAIR) Your local bank has offered you

PLEASE ONLY ONLY HOW TO DO IN EXCEL. NO hard coded formulas.

I will rate.

PLEASE ONLY ONLY HOW TO DO IN EXCEL. NO hard coded formulas.

10. (Mortgage + EAIR) Your local bank has offered you a 20-year, $100,000 mortgage. The bank is charging 1.5 points, with processing" costs of $750; both points and processing costs are deducted from the mortgage when it is given. The mortgage carries a 10% annual interest rate and is paid in equal monthly payments. Note that the monthly payments on the mortgage are cal- culated on the full amount of the mortgage (that is, $100,000). a. Calculate the monthly payment on the mortgage, show the amortiza- tion table, and compute the EAIR. b. Will the EAIR of the mortgage change if the loan period is 6 years

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