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Task # 7 ( Mortgage ) . In the mortgage example, given in class ( Unit 3 , slides 5 7 - 5 9 )

Task #7(Mortgage). In the mortgage example, given in class (Unit 3, slides 57-59) we calculated the monthly payment. You might be interested which part of this payment is interest and which part is repayment of the debt. Use a spreadsheet to calculate the interest payment, repayment of principal and the loan balance for every month. Draw a graph that shows nicely how the share of interest decreases over time while the share of repayment increases.

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