Mortgage Amortization Schedule

Loans are part of our lives today. You might have Student Loans, Auto Loans, and Home Mortgage Loans, etc. Banks make those loans and get paid with interest based on the Loan Amortization Schedule. You can find more information through online research. Do the research and build the Mortgage Amortization Schedule Excel Worksheet to analyze the following scenario:

30 years Home Mortgage Loan at 3.25% fixed APR

Purchase Price of the house: $500,000

Down Payment: 20%

Your Excel application should have the above information as the input part of the sheet and compute the following:

Monthly Mortgage Payment

Principal Payment of the Monthly Payment

Interest Payment of the Monthly Payment

Amortization schedule showing the above payments over the loan period