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Not looking for a complete workout of this.. Just looking for some help with excel formulas and how to complete this without inputting numbers one
Not looking for a complete workout of this.. Just looking for some help with excel formulas and how to complete this without inputting numbers one by one.
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Objectives: Construct a mortgage loan amortization with monthly loan payments The Project: You are about to purchase a new home for $200,000 with a $180,000 loan. The current rate (APR) on a 2 year mortgage with a 10% down payment is 4.8% (2 years to keep it a manageable size) Use the Excel PMT function to calculate the monthly payment. Make sure that the interest rate, r, and the term of the loan, t, are stated in monthly terms. Create a loan amortization schedule with monthly payments using the provided spreadsheet template. Your first payment is due January 1, 2021. Deliverable: Complete the Excel template for the amortization schedule. If you do it correctly, the final ending balance will be "0" MONTHLY PAYMENT = Loan Amt APR Term Years $180,000.00 4.80% 2 Loan Amortization Beginning Balance Interest Payment Principal Pmt Ending Balance Year 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 2022 2022 2022 2022 2022 2022 2022 2022 2022 2022 2022 2022 Mon 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12Step by Step Solution
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