If you decided to get a $15$ year loan instead of a $30$ year loan the payments will be $$801\mathrm{.}42.$ Your interest rate is still $6\mathrm{.}5\%$ compounded monthly. Set up your spreadsheet to display the outstanding balance for each month for $15$ years $($If you still have the first part of the problem up$,$ you will need to change both your Payments value and delete months $181-360).$ As a checkpoint, you should get $$88894\mathrm{.}18$ after your tenth payment.

How much is still owed on the loan just after $60$ payments.

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Find the size of the last payment.

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How much interest in total did you spend on the house?

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For the $15$ year option, at which payment does more of the payment go to principal then to interest?

Determine the total amount of interest saved on the loan by getting a $15$ year loan instead of a $30$ year loan.

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