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How would this look on a spreadsheet? In the range J5:J12, enter the following loan and loan conditions of the first mortgage to compute fixed
How would this look on a spreadsheet?
In the range J5:J12, enter the following loan and loan conditions of the first mortgage to compute fixed monthly payments for the loan in cell J11 using the appropriate function. The loan amount (or value of the principal) is $335,000. The annual interest rate is 5%. The interest rate is compounded 12 times a year (or monthly). The mortgage will last 30 years.
The blank spaces to be filled out are:
Annual Rate:
Compounded:
Monthly Rate:
Years:
# of Payments
Principal
Monthly Payment
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