Goal-seek Loan Amortization Schedule

Amount of the loan: $500,000

Length of the loan: 30 years

Payment: Equal annual payment

Interest rate: Annual interest rate is 3.0% in year 1, and increases 0.1% in year 2, etc. In other words, the annual interest rates will be 3.0%, 3.1%, 3.2%,.

M1 Assignment - Goal-seek Loan Amortization Schedule Rubric

Successfully created year-by-year table with Year, Beginning balance, PMT, interest, principal, ending balance
Successfully created a column to reflect floating interest rates
Successfully utilized goal seek to calculate loan annual payment