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Problem #4 Create an amortization table for a loan liability. a) Amount of the mortgage - $96,217 b) Number of years - 24 c) Yearly
Problem #4 Create an amortization table for a loan liability. a) Amount of the mortgage - $96,217 b) Number of years - 24 c) Yearly interest rate 12. 10% d) Given the information in (a), (b) and (c), calculate the monthly payment. Assume that the payment is made at the end of each month. The payment should be in terms of dollars and cents. Construct a table that uses your data to calculate your monthly payment. See below for the set up for the first few cells of the worksheet. . e) Construct the amortization table. The loan balance at the end should be very close to zero after you make all the required payments (there may be a small rounding difference, but it should be very small in relationship to the loan). f) Be sure to label all input items and columns. g) This print out will take more than one page. C 1 2 3 4 5 A Amount of Mortgage Interest Rate (yearly) Number of years B (input your value) (input your value) (input your value) Amount of Monthly Payment Using the values in cell B1, B2, and B3 have excel calculate the monthly payment
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