Use the following to solve questions a. and b. and please buid an excel spreadsheet and please show the formulas on the excel spreadsheet.  A house with price of $250,000 20% down payment, loan amount $200.000 30-year fixed rate mortgage with interest rate as follows: Suppose that there is $2,500 origination cost.  a. Which choice would you like to choose if you will live in the house for 30 years?  b. Which choice would you like to choose if you will live in the house for 5 years?

Q: Use the following to solve questions a. and b. with excel  A house with price of $250,000 20% down…

A: To solve these questions, we would typically use Excel's financial functions to calculate the total…

Q: Explain which is the better option.

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A: As the house price is not given. Let us assume the house price is $350,000.

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Q: Use the following to solve questions a. and b. with an excel spreadsheet  A house with price of…

A: See the answer in the explanation field.Explanation:Answer information:Step 1:Provided:It is assumed…

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