Mortgage Loan Amortization

Directions:

Complete the loan inputs schedule, and then the mortgage loan amortization schedule for a home loan of $$425,000,00$ that will be repaid over $360$ months, and an interest rate of $7\mathrm{.}00\%$

$\backslash$table$[[$Loan Inputs,Numbers$],[$Principle$,],[$Annual Interest,$],[$Periods Per Year,$],[$Total Number of Payments,$],[$Percentage Rate Per Period,$],[$Payment Per Period,$],[$Total Paid Over Life of Loan,$]]$

$\backslash$table$[[$Payment Number Beginning Balance Payment Amount Interest Paid Principle Paid Ending Balance,$],[1,,,,,],[2,,,,,],[3,,,,,],[4,,,,,],[5,,,,,],[6,,,,,],[7,,,,,],[8,,,,,],[9,,,,,],[10,,,,,]]$

Mortgage Loan Added Payment

Directions:

While keeping the same assumptions from the previous tab of the mortgage loan, in this section, please adjust the "Payment Per

Period" box to reflect an added $$300$ per month, and then solve for the new "number of payments." After that, complete the

$\backslash$table$[[$Loan Inputs,Numbers$],[$Principle$,0],[$Annual Interest,$0],[$Periods Per Year,$0],[$Total Number of Payments,$],[$Percentage Rate Per Period,$0],[$Payment Per Period,$],[$Total Paid Over Life of Loan,$0]]$

$\backslash$table$[[$Payment Number Beginning Balance Payment Amount Interest Paid Principle Paid Ending Balance,$],[1,,,,,],[2,,,,,],[3,,,,,],[4,,,,,],[5,,,,,],[6,,,,,],[7,,,,,],[8,,,,,],[9,,,,,],[10,,,,,],[11,,,,,]]$