Question 1 1 out of 1 points Karina has decided that she loves her city and her job, and she wants to settle in for the long term by buying a condo. She has found one that she loves and which is in her price range, and has negotiated a sale price of $179,000. Her credit union requires a 10% down payment. What is the dollar amount of Karina's down payment? (hint: write down your answers on a piece of paper as you go) Selected Answer: 17,900 Question 2 1 out of 1 points Once Karina makes her down payment, how much will she still owe for the house? This will be her loan amount. Selected Answer: 161,100 Question 3 O out of 1 points Karina's credit union offers a 30 year fixed rate mortgage with a 5.75% APR and monthly payments. Use the PMT formula and the loan amount you calculated in the last problem to determine how much Karina's monthly payment will be. Selected Answer: 940,14 Question 5 O out of 1 points Now we move on to the entries for the first month. Enter a 1 for the month. Which of the following should you use to fill in the payment amount for the first month? Selected Answer: Use a cell reference to the value in the PMT formula. X Question 6 O out of 1 points Now we move on to the entries for the first month. For the interest calculation we use the formula = (last month's balance) * APR. Some of these values should be typed in as numbers, and some should be cell references. Which one(s) should be cell references? Enter the formula in the cell. Selected Answers: last month's balance X n Question 7 O out of 1 points Now we move on to the entries for the first month. We have calculated how much of the payment is being taken by the credit union as interest, so now we need to see how much of Karina's payment is left to go toward paying down the principle of the mortgage. Which of the following is the correct way to determine the principle amount? Selected Answers: last month's balance - payment