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5) You are refinancing your current mortgage with an outstanding loan balance of $280,000 today

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5) You are refinancing your current mortgage with an outstanding loan balance of $280,000 today. The new loan has 3.9% APR interest rate (compounded monthly) and it requires you to make a monthly payment for the next 30 years. What is your monthly payment under this new loan? Please show your excel formula in your answer and explain step-by-step calculation to arrive to your answer.

6) Calculate the present value of a stock if this stock pays $1.2 dividend in the next four years and then $2.50 for year 5 to year 7, and in year 8 and thereafter it pays $4 constant dividend forever. The interest rate is 9%. Please provide excel formula and provide step-by-step explanations on your calculations.

7) You are thinking of buying a bond today. This bond is expected to pay $30 every year for 4 years and the bond will also pay a lump sum of $1000 at the end of year 4. If the nominal interest rate is 6% APR but compounded monthly, how much are you willing to pay for each share of this bond today? Please show your formula in your answer and explain step-by-step calculation to arrive to your final answer.