John Doe has just been offered a home loan towards purchase ofhouse that is being sold for

​$230,000.

He will be required to make a

15​%

down​ payment, as well as mortgage processing fees and closingcosts of

​$3,000.

The loan has to be paid off in monthly payments over a​ 30-yearperiod at a fixed interest rate of

6​%

per year compounded monthly. He will also be required to pay anadditional

​$92

per month as mortgage insurance. Using​ Excel, answer thefollowing​ questions:

​(a) The monthly mortgage payment is

​(enter as a positive number to the nearest​ dollar) ​(b) Thetotal monthly payment is

​

​(enter as a positive number to the nearest​ dollar)​(c) Thenominal APR is

​(to the nearest 2 decimal​ places)       The effective APRis

​(to the nearest 2 decimal​ places)​(d) Over the​ 30-yearperiod, the total amount of interest paid on the loan is

​

​(enter as a positive number to the nearest​ dollar).​(e) Theinterest amount in the month

60

payment is

​

​(enter as a positive number to the nearest​ dollar)       Theprincipal amount in the month

60

payment is

​

​(enter as a positive number to the nearest ​dollar)​(f) Thebalance on the loan immediately after making the payment at the endof  month

60

is

​

​(enter as a positive number to the nearest​ dollar)