Consider a $50,000 loan made at a 6 percent interest rate (annual rate compounded monthly) for 5 years. Be sure to show calculations and reference cells where needed (i.e. do not simply type in values but reference other cells to compute the calculations).

C) Calculate the constant monthly mortgage payment on this loan, assuming it is an interest only loan. Use the excel PMT function to calculate the monthly payment. Fill in the amortization schedule.

Loan amount
Interest rate
Number of years
Number of periods
Periodic rate
Loan Balance (FV)
Monthly payment

Month	Beginning Loan Balance	Monthly Payment	Interest	Amortization	Ending Loan Balance
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