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7. In order to purchase a house, you have taken out a 30 year mortgage of $200,000 at 4.29% interest per year. You make payments
7. In order to purchase a house, you have taken out a 30 year mortgage of $200,000 at 4.29% interest per year. You make payments at the end of every month. What is the amount of each monthly payment?Refer to question 7. Using Excel, prepare an amortization table for the mortgage. Obtain the results for the first fifteen periods and include the results with your completed assignment. On the same page, show the overall sums for the relevant columns over the full period of the mortgage.
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