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Suppose you take out a 4-year variable interest amortized loan worth $500,000. The loan should be paid off in 48 monthly installment. The APRs in
Suppose you take out a 4-year variable interest amortized loan worth $500,000. The loan should be paid off in 48 monthly installment. The APRs in year 1, 2, ..., 5 are 3.5%, 4%, 4.5%, 5% and 4% respectively. Calculate your monthly payment each year and attach the excel file containing the amortization table.
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