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56 In this class, you will construct an amortization table as shown in the lecture. Answer the questions below by using a mathematical formula (write
56 In this class, you will construct an amortization table as shown in the lecture. Answer the questions below by using a mathematical formula (write down the formula in the excel file and plug in the values) and also by using the Excel function wizard. Upload your excel file. You will study this topic based on the lecture that is uploaded in this discussion and found on free online sources, for example, look at the following link: https www.investopedia.com/terms/amortization as Suppose you borrow $15,000. The loan's annual interest rate is 8%, and it requires four equal end-of-year payments. Set up an amortization Schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Use the following table in Excel Beginning Ending Year Balance Payment Interest Principal Balance 1 2 3
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