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Create an amortization schedule that can be used to find the periodic payment for a loan. The following are variable inputs (the spreadsheet should automatically
Create an amortization schedule that can be used to find the periodic payment for a loan. The following are variable inputs (the spreadsheet should automatically update when they are changed): loan amount interest rate per period loan length (number of periods) extra payments made (prepayment) in any period Make the following assumptions: . all payments are made at the end of the period unless defined otherwise, the required payment is the uniform series amount required to pay off the loan in the specified period the required payment each period is not reduced by prepayment except in the last period, where the required payment should be the loan payoff amount. The following are required outputs that should automatically update upon changing the variable inputs: total interest paid over the life of the loan a table consisting of starting balance, interest, required payment, extra payment (prepayment), total payment (required +extra payments), and ending balance for each period
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