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Problem 3 How much is the loan balance pay-off of a home that has undergone 15 years of uninterrupted amortized loan payments of both principle
Problem 3 How much is the loan balance pay-off of a home that has undergone 15 years of uninterrupted amortized loan payments of both principle and interest. Assume a fixed interest rate of 3.75% with a monthly compound, for a home that has an existing loan amount of $360,000 for a 30 year loan. Create an excel program that will clearly identify interest and principle reductions within a 15 year period on a monthly basis
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