Loan Terms
Loan Length	30 years
House Price	$315,000
Down Payment	15%
Interest Rate (APR)	7.55%	Compounded monthly
You receive a 30 year fixed-rate mortgage loan for 85% of the purchase price of the house. This is an amortized loan paid in equal monthly payments over the loan term. Fill out the first 4 rows for the 30 year fixed- rate mortgage loan. (with cell references)
	Month	Payment	Interest ($ interest paid)	Principal ($ paid to principal)	Outstanding Loan Balance
Day Loan Taken out	0
	1
	2
	3
	4