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Create a loan amortization schedule in Excell for a $275,000 mortgage that will be repaid over 20 years with monthly payments. The annual interest rate

Create a loan amortization schedule in Excell for a $275,000 mortgage that will be repaid over 20 years with monthlypayments. The annual interest rate is 5.5 %.

What is your monthly payment? $

What is the total dollar amount of payments made over the life of this loan? $__

What is the total dollar amount of interest paid over the life of this loan? $_

How many months will it take to pay off the loan if you pay an extra $100 per

month? ____

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