ASSIGNMENT Goal-seek Loan Amortization Schedule Amount of the loan: $500,000 Length of the loan: 30 years Payment: Equal annual payment . Interest rate: Annual interest rate is 3.0% in year 1, and increases at 0.1% increment every year after that So Year 2's rate will be 3.1%, Year 3's rate will be 3.2%, etc. (It's a simple addition, each following year's rate will be previous year's rate + 0.1%) M1 Assignment - Goal-seek Loan Amortization Schedule Rubric . . Goal-seek Loan Amortization Schedule Amount of the loan: $500,000 Length of the loan: 30 years . Payment: Equal annual payment . Interest rate: Annual interest rate is 3.0% in year 1, and increases at 0.1% increment every year after that. So Year 2's rate will be 3.1%, Year 3's rate will be 3.2%, etc. (It's a simple addition, each following year's rate will be previous year's rate + 0.1%) M1 Assignment - Goal-seek Loan Amortization Schedule Rubric Successfully created year-by-year table with Year, Beginning balance, PMT, interest, principal, ending 4 balance pts Successfully created a column to reflect floating interest rates 1 pt Successfully utilized goal seek to calculate loan annual payment 2 pts Total 7 pts