I want explained work with formulas don't use any software. Suppose you bought a house for 45,000,000 by paying 10% down payment. Make Amortization table by using this information. Assuming there is no fees and payment is on annual basis. 1. Original Interest rate is 10% for first two years. 2. Then next two years Interest rate is 8% 3. Then for rest of the period Interest rate drops to 6% 4. You need to pay every year original payment as you paid for 10% interest Amortize it for 15 year and see how many years it will take for you to finish the mortgage? I want explained work with formulas don't use any software. Suppose you bought a house for 45,000,000 by paying 10% down payment. Make Amortization table by using this information. Assuming there is no fees and payment is on annual basis. 1. Original Interest rate is 10% for first two years. 2. Then next two years Interest rate is 8% 3. Then for rest of the period Interest rate drops to 6% 4. You need to pay every year original payment as you paid for 10% interest Amortize it for 15 year and see how many years it will take for you to finish the mortgage