Use Excel to create an amortization schedule of the loan to determine the payment amount along with the allocation of the payments between principal and interest. Thank you!

On October 1 Computer Solutions purchased an office building for $523,000, which included land, building, and office equipment. The purchase was financed with a 30 year loan from the bank with an interest rate of 6% (ordinary annuity). The first payment is due November 1. Appraisal of the property came in at $605,000 with the land appraised at $242,000; building, $308,550; and furniture and fixtures, $54,450.

Loan Amortization Schedule Enter Values Loan Summary