A retail property was acquired on April 12 of year one with $1,500,000 of cash and $3,500,000 of debt. The mortgage was a 20 year term, 5.25% fixed rate, fully amortizing. No loan fees because the owner accepted a higher interest rate. The owner did not make any capital improvements to the property during the hold period. Year one NOI of $325,000.

The property was sold on the April 11 of year eight for $ $6,800,000 with closing costs of 4.25%.

The owners Tax rates are 39% ordinary Income, 27% depreciation recapture, 15% capital gains

Tax Assessment for this property is as follows:

Value
$ (25%)	Land
$ (75%)	Improvements
$5,000,000 (100%)	Total

1. What is the monthly mortgage payment?
2. What is the mortgage balance at disposition?

Can you teach me how to do this on excel?