Complete the attached Microsoft Excel Spreadsheet to construct a mortgage amortization solver for a 30 year $300,000 loan at 3.25% interest

Input the annual interest rate and solve for monthly interest rate. Show the Effective Rate of interest.

Calculate the number of months that this loan will be paid

Use the correct Excel formula to compute the monthly mortgage payment.

Amount borrowed? $300,000.00 Interest Rate? Annual (C2) and Monthly (D2) 3.2500% Effective Rate of Interest? Number of payment Years (C4) and Months (D4) 30 Solved for Amount of PMT? Crossover Payment # (when you pay more principal than interest)? Starting Balance Interest Principal Ending Balance Total Interest Paid to Date Payment 1 2 3 4 4 5 5 6 7 8 9 10 11 12 13 14 14 15 16 16 17 17 18. 18 19 20 21 21 22 23 24 25 26 27 28 29 30