Spreadsheet 1: Amortization Table

Create an amortization table in MS-Excel in the format shown below:

Scenario: 2 years ago Janice got a $100,000, 15-year mortgage with an annual interest rate of 6% and monthly payments.

1) What is her monthly payment?

2) How much does she owe today (after 24 payments)?

3) How much will she owe in 3 years (after 60 payments)?

4) How much will she owe in 3 years (after 60 payments) if she makes an extra $200 payment every month starting today?

LOAN ANALYSIS: Prepared by Kent Saunders Principal $10,000.00 Annual interest 10.00% 10 Term (years) Payment periods per year No. of payments Periodic rate of interest 5.00% Basic P ayment per period$802.43 Added payment Pmt Beg. Principal Added AppliedEnding Cumulativie Balance Interest Payment Payment Principa Balance Interest 500.00 9,697.57 484.88802.430.00 317.559,380.02984.8S 9,380.02469.00 802.43 0.00 333.43 9,046.591,453.88 9.04659 52.33 802.43 0.00 350.10 8.696.49 906.21 10,000.00 500.00802.430.00 302.43 9,697.57