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Victor Connors work at Home Trust Mortgage (HTM) company. One ofhis duties at work is to prepare informative tables, charts andgraphs showing monthly payments to clients for various loanamounts. You are Victor’s assistant. You should help him with thefollowing: Consider a $300,000 loan to be repaid in equal end ofmonth installments for the next 30 years at an interest rate of4.25 percent (compounded monthly). Now answer the following basedon the loan above:1. Calculate monthly payments to pay off the mortgage.2. Set up an amortization schedule. What is the remainingbalance after 6 years (72 payments)?3. Create a graph showing how the monthly payments are sharedbetween interest and principal. How much is paid towards interestpayments over these 30 years. 4. What would be your overall savingsif the interest rate were to decline to4.125 percent instead of 4.25 percent original rate if you madean initial payment of $2,000? Is it worth making this payment.Make sure to answer questions 1, 2, and 3 in Sheet 1 andquestion 4 in Sheet 2.