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need help on this excel homework. If you can please show the formulas as well thank you ! Complete Home Mortgage Payment Amortization table using
need help on this excel homework. If you can please show the formulas as well thank you !
Complete Home Mortgage Payment Amortization table using the following data: House Sale Price is $775,000 Down payment is 20% Interest rate is 5% Loan term is 15 years 1) Input Home Loan Data in yellow cells B5:B10. Calculate Down Payment in $ and Loan Amount accordingly. 2) Calculate Monthly Payment in cell B13 using formula below 3) Assign meaningful names to all variables and use in the formulas 4) Complete amortization schedule for all 180 periods bringing Ending Balance to $0 at the end of 15th year using formulas below If done correctly with Named variables, you should be able to enter the formulas for the first period and copy it down for all 180 periods Use the following formulas: Payment PMT(rate, nper, pv, [fv], [type]) Principal PPMT(rate, per, nper, pv, [fv], [type]) Interest IPMT(rate, per, nper, pv, [fv], [type]) 4 5 Home Price 6 Down payment % 7 Down payment $ 8 Loan Amount 9 Interest Rate 10 Term (Year) 11 12 13 Monthly Payment 14 15 16 17 Amortization Table (Complete the Amortization table) 18 Period Beginning Balance 19 1 20 2 $0.00 21 3 22 4 23 5 24 6 25 7 26 8 27 9 28 10 29 11 30 31 13 32 14 33 15 34 16 35 17 Payment Principal Interest Ending balance $0.00 12Step by Step Solution
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