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Use each worksheet for amortization table and one for cash Open Assignment9 2.xlsx flow table. You are going to buy a house. There is a
Use each worksheet for amortization table and one for cash Open Assignment9 2.xlsx flow table. You are going to buy a house. There is a 5% down payment and annual interest rate of 2.94% for the $174,000 house. You will pay this loan in 15 years by equal monthly payments. 1. Use a function in cell B7 for estimating monthly payments. 2. Create an amortization table starting from cell A9 to show all monthly interest and principal payments, and remaining balance for each month. 3. Create a table to list cumulative payments of interest and principal for each year. Reference all values and label them properly on top of your worksheet. J8 A B D E F H Interest 1 Payments in year: Principal Loan 2 APR 3 Periods/year 4 Years 5 Future Value 6 7 PMT 8 9 Period(month) 10 Interest Principal Balance 11 12 13 14 15 16 17
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