A Loan Amortization Schedule. Prepare two spreadsheets of amortization schedules for two different loans. The schedule should show monthly payments, interest/principal payments, and balance information on each loan. See below for a typical presentation of a loan amortization schedule. Format the table so that the entire table can fit in a single page, by hiding some of the middle rows; Show only the first 24 months and the last 12 months. (Use hideor Group command to hide rows that you do not want to print).

Do this for each of two loans; one for a 15-year $215,000 loan at 3.95% APR (loan A), and the other for a 20-year $156,000 loan at 4.45% APR (loan B).

At the top of each table, compute the total amount of interest payments.

Loan Amortization Schedule Example Loan Amount $ 50,000.00 Loan Length 48 months Interest (APR) 6.00% Total interest payment $xxxx.xx. Beginning Monthly Payment Ending Month Principal Payment Interest Principal Principal 1 $50,000.00 $1,174.25 250.00 $924.25 $49,075.75 2 $49,075.75 $1,174.25 245.38 $928.87 $48,146.88 3 $48,146.88 $1,174.25 240.73 $933.52 $47,213.36

Monthly Payment is the amount the borrower pays monthly for a loan. Use the =pmt( ) function to compute it.

Beg. Principal t = End. Principal t-1

Interest Payment = Beg. Principal * (APR/12)

Principal Payment = Payment Interest Payment

End. Principal = Beg. Principal Principal payment.