Bank Y approved a loan of $150,000 at 4.5% APR compounded quarterly for your new home purchase. Complete the Monthly Loan Payment Schedule in the space provided below. Be sure to fill up all the spaces.

*If you can explain how to get the payment size(especially), principal and interest payment, total monthly, quarterly payment(especially) I can do every month. This is supposed to be in an excel document, so if you know of easy formulas I can use please let me know. Thank you

Loan Amount $150,000 Loan Period 15 Years APR (%) 4.5%

Quarterly Payment_______ Total Interest___________ Total Payment__________

Payment No. Payment Size Principal Payment Interest Payment Total Monthly Payment Loan Balance

1

2

3

etc....