Hi, Can someone help me create 2 amortization tables based on the information i show in page 3 of the attached? I am having a really hard time with it and i need assistance with this. Thank you!

Amortization Schedule for a Loan Payable Most loans are not repaid in one large payment but paid with smaller installment payments during the agreed upon term of the loan. The payments may be on a monthly, quarterly or semiannual basis but in all cases the payment represents interest and a principal. The payments continue until the loan is completely repaid. Generally we compute the monthly payment for a mortgage using the following formula: A - the payment amount i - is the interest rate P - is the principal or loan amount n - is the number of periods The payment is set to make the present value of the payments equal to the amount of the loan at the end of the period. By convention, the quoted mortgage rate is annualized with monthly compounding. Example: If a firm borrows $45,000 for 30 years at 6% the monthly payments would be computed as follows using the formula: .005 x 45,000 x(1+.005)360 (1+.005)360-1 Notes: = $269.80 monthly payment for loan Since we are looking for monthly payment the interest rate needs to be stated monthly (6%/12 = .5%) The monthly payment includes interest and principal. The computation is also available in Excel using the following formula: @PMT(rate, nper, pv) Rate - Interest rate (making sure it is stated for the payment ie; monthly, annually or semiannually) Nper - number of periods Pv - present value or the current loan value Once we know the payment for the life of the loan, we can now create our amortization schedule which will break down the payment between the interest and principal. Amortization schedule for: Month 1 2 3 4 5 6 7 8 9 --356 357 358 359 360 Totals monthly payment principal 269.80 269.80 269.80 269.80 269.80 269.80 269.80 269.80 269.80 44.80 45.02 45.25 45.48 45.70 45.93 46.16 46.39 46.62 interest 6% 225.00 224.78 224.55 224.32 224.10 223.87 223.64 223.41 223.18 loan balance 45,000 44,955.20 44,910.18 44,864.93 44,819.45 44,773.75 44,727.82 44,681.66 44,635.26 44,588.64 269.80 269.80 269.80 269.80 267.53 263.17 264.48 265.80 267.13 266.20 6.63 5.32 4.00 2.67 1.33 1,063.61 799.13 533.33 266.20 0.00 $97,125.73 $45,000.00 $52,125.73 Based on the loan amortization schedule we will be able to prepare journal entries for each monthly payment made by the company. Payment 1 Loan Payable $44.80 Interest Expense $225.00 Cash -to record monthly payment on loan $269.80 Payment 359 Loan Payable $267.13 Interest Expense $2.67 Cash -to record monthly payment on loan $269.80 Excel Spreadsheet Assignment Each student will create two loan amortization tables and using Excel based on the following information: Mortgage Loan 1 45,000 Loan 2 180,000 interest (6%) total payments (30 years) monthly payment 0.005 360 ($269.80) 0.005 360 ($1,079.19)