Mortgage Information: Please complete the table below and provide details on formulas and values used to solve the problem.

Excel training functions

Loan amount: $300000

Loan term: 30 years

Interest rate :6%

Payment made: 50

Mortgage payment amount:

$1,798.65

Interest amount of last payment:

$1,417.32

Cumulative interest paid:

73015.4116

Cumulative Principal paid:

16917.16717

Q2: Data Table

Create a data table (What-if Analysis) showing how Mortgage payment amount change with interest rate (1% - 30%) and loan term(1 yr - 10 yr)