Prepare a loan amortization schedule using excel for a 30-yrs, fixed rate $400,000 mortgage at the rate of 5.5% (payment will be monthly). Note- your loan amortization schedule is to be developed by you and may NOT utilize loan amortization templates that may be found online.

Since the entire amortization schedule will take 360 lines, hide the lines of payments #5 through #355 and prepare a schedule that shows payment 1 - 4, and 356 - 360. Also include totals after payment 360 for the total interest and total principal paid over the course of the loan.

In setting up your excel worksheet, be sure to show your input separately for the loan amount and mortgage rate so that we can do what-if scenarios by simply changing your input.