j. Suppose you bought a house and took out a mortgage for $50,000. The interest rate is 8%, and you must amortize the loan over 10 years with equal end-of-year payments. Set up an amortization schedule that shows the annual payments and the amount of each payment that repays the principal and the amount that constitutes interest expense to the borrower and interest income to the lender.
Original amount of mortgage:	50000
Term of mortgage:	10	cell D184
Interest rate:	0.08	cell D185
Annual payment (use PMT function):
Year	Beg. Amt.	Pmt	Interest	Principal	End. Bal.
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(1) Create a graph that shows how the payments are divided between interest and principal repayment over time.
Go back to cells D184 and D185, and change the interest rate and the term to maturity to see how the payments would change.
(2) Suppose the loan called for 10 years of monthly payments, 120 payments in all, with the same original amount and the same nominal interest rate. What would the amortization schedule show now?
	Now we would have a 12 10 = 120-payment loan at a monthly rate of .08/12 = 0.666667%.
	The monthly payment would be:
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