- Create and submit an amortization table.

- You should only including 5 headings in your spreadsheet: (1) Payment Number, (2) Payment Amount, (3) Interest, (4) Principal, and (5) Outstanding Balance.

- Create an amortization table where you take out a $650,000 loan from a bank, charged at 7.9% interest, compounded monthly, for 20 years.

- Here is an example of the required format:

$4000 over 9 years at 10% compounded semi-annually Princip 4,000.00 Interest 5% Pmt ($342.18) Outstanding Pmt Total Paid Interest Principal Balance 4,000.00 1 $500.00 200.00 $300.00 3,700.00 2 $500.00 185.00 $315.00 3,385.00 3 $500.00 169.25 $330.75 3,054.25 4 $500.00 152.71 $347.29 2,706.96 5 $500.00 135.35 $364.65 2,342.31 $500.00 117.12 $382.88 1,959.43 7 $500.00 97.97 $402.03 1,557.40 8 $500.00 77.87 $422.13 1,135.27 9 $500.00 56.76 $443.24 692.03 10 $500.00 34.60 $465.40 226.63 11 $237.96 11.33 $226.63 0.00 $5,237.96 $1,237.96 $4,000.00