Question: Show work through excel using formulas: but please actually show each step you use to do it on excel! 1. Assume you have taken out

Show work through excel using formulas: but please actually show each step you use to do it on excel!

1. Assume you have taken out a balloon mortgage loan for $2,500,000 to finance the purchase of a commercial property. The loan has a term of 5 years, but amortizes over 25 years. Calculate the balloon payment at maturity (Year 5) if the interest rate on this loan is 4.5%.

A. $5,637.99 B. $13, 895.82 C. $2,196,447.59 D. $2,495,479.19

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