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with excel functions Mini-Project 1 (60 points): Mortgage Loan Analysis: Mr. Davidson plans to buy a new house at Sugar Land in June 2019. The sale price of the house is $500,000. He plans to pay 20% down payments and borrow additional 80% from Bank of America with a 30-year, 3.875% fixed-rate mortgage loan. He is expected to pay an equal MONTHLY payment starting from July 2019 for a total of 30 years. (1) Calculate the required monthly payment for Mr. Davidson (2) Construct 2019 2021 amortization table (30 months) for Mr. Davidson (1) Mr. Davidson should prepare his 2019 tax filings in early 2020. Estimate the total mortgage interest payments for his 2019 tax deduction Monthly payment is $14,011 for each month.... SUM X X -PT31.22.8L BLES Loan installed T o principal 387280.6667 $374,520.26 $161.718.65 $348.875.70 $335, 991.28 S321,055.25 2 Jul 19 3 Aug 19 Sep-19 5 Oct 19 6 Nov-19 7) Dec 19 8 Jan 20 Feb-20 10 Mar 20 11 Apr-20 12 May-20 13 Jun-20 14 Jul-20 15 ) Aug 20 16 Sep-20 17 Oct 20 18 Nov-20 19 Dec 20 20 Jan-21 21 Feb 21 22 Mar 21 23 Apr-21 $14,011 $14,011 $14.011 $14.00 $14,011 $14,011 $14.011 $14,011 $14.011 $14,011 $14.011 $14,011 $14.011 $14,011 $14,011 $14,011 $14,011 $14,011 $14,011 $14,011 $14,011 $14,011 Interest incipal balace portion $400,000 1291.6667 $387,280.67 $1,250.59 $374 520.26 $1,209.39 $361 718.65 $1,168.05 $348,875.70 $1,126.58 $15.991.28 $1,084.97 $323,065.25 $1,043.23 $310,097.46 $1,001.35 5297,087.84 $959.35 $284,036.18 $917.20 $270,942.38 $874.92 $257 806.30 $832.50 $244.627.80 $789.94 $211.406.74 $747.25 $218.143.00 $704.42 $204,836.42 $661.45 $191.486.87 $61.34 $178,094.21 $575.10 $164,658.30 $531.71 $151.179.01 S488.13 $B $6.20 444 51 $124.009.71 $400.71 $297.037.84 $284,036.18 $270,942.38 $257,896.30 $244.627.80 $231.496.74 $211,143.00 $204,836.42 $191,436.87 $164,658.30 $151,179.01 $137,656.20 $14.049.71 $110.479.42 G H 23 Apr 21 24 May 21 25 Jun 21 25 Jul 21 27 Aug 21 23 Sep-21 29 Oct 21 30 Nov-21 31 Dec 21 $14.011 $14,011 $14.011 $14,011 $14,011 $14.011 $14,011 $14,011 $14,011 $124,089.71 $110.479.42 $96.025.17 $83.126.84 $69,384.27 5 55.597 $55.597.32 $41,765.86 $27.889.72 $13.968.78 $400.71 $356.76 $312.66 $268.43 $224.05 $179.53 $134.87 $90.06 $45.11 $110.479.42 $96.825.17 S01120.54 $69.384.27 $S5.597.32 $61765.86 $27 819.72 $13.968.78 $2.89 For claiming tax deduction interese paid in 2020 is S9725 sou can claim it as tax deduction u can calculate the interest column tenure i assume for 2020 means from jan 2020 to dec 2020 if this is the case them interest is $9725 paid

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