Question: Please show work using excel functions such as PMT, PV, FV, NPV, etc... Tristan decides to buy a home. He is going to borrow $275,000.00.

Please show work using excel functions such as PMT, PV, FV, NPV, etc...

Tristan decides to buy a home. He is going to borrow $275,000.00. He decides to go with the 30 year fixed mortgage with an APR of 4.00%. 15 year mortgages are being offered by the same bank at an APR of 3.25%. If Tristan decides at the last moment to switch to the 15 year mortgage, how much will his monthly payment increase by? $619.45 $1,312.89 $411.28 O $894.55

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