Amortization tab of the spreadsheet, calculate your down payment, your monthly payment and create a loan amortization table for the life of the loan.

Note the total interest you paid at the bottom of the table.

You must show your work by using formulas in Excel.

Names: FIN 304: Project #2 - Amortization & Property Closing $ Assumptions: Purchase Price Loan Term (years) Interest Rate 270,000 15 4.75% Calculations: Down Payment Beginning Loan Balance Monthly Loan Payment 54,000 = 20% of purchase price 216,000 = Purchase Price - Down Payment Use PMT function in Excel (Note: divide your rate by 12 to get the monthly rate a Month Beginning Balance Payment Interest Principal Ending Balance