Please explain, Excel assignment.
Prepare an amortization table for a 30-year mortgage where thehomeowner is borrowing $170,000 at a 3.75% interest rate. Inaddition to the monthly table, provide a summary table showing theinterest paid, principal paid, and ending balance on a yearlybasis. Create three separate graphs illustrating interest paid overtime, principal paid over time, and ending balance over time forthe 30 annual periods in the summary table.
Repeat the analysis, changing the interest rate to 8.75% andcomment (briefly) on the impact of mortgage rates on homeaffordability.
