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2. Vanna has just financed the purchase of a home for $200,000. She agreed to repay the loan by making equal monthly blended payments
2. Vanna has just financed the purchase of a home for $200,000. She agreed to repay the loan by making equal monthly blended payments of $3,000 each at 4%/a, compounded monthly. a. Create an amortization table using a Microsoft Excel spreadsheet. In your answer include all the formulas used. (10 marks) b. How long will it take to repay the loan? (1 mark) c. How much will the final payment be? (1 mark)
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