Using Excel to Calculate Mortgage Payment, Amortization Schedule, and Entries PROBLEM Gomez Inc. signed a mortgage payable on November 30, 2024, with a bank to obtain financing for a new building. Installment ayments are to be made at the end of each month. nformation for the mortgage follows. Mortgage loan amount Mortgage term in years Interest rate $ 300,000 10 4% Student Work Area Required: Provide input into cells shaded in yellow in this template. Use the PMT function to calculate the payment and mathematical formulas with cell references to the Problem area and work area as indicated. indicated. a. Use Excel's PMT function to calculate the amount of each installment payment. Mortgage payment calculation b. Prepare a partial amortization table through January 31, 2021. Monthly Interest Payment Nov. 30, 2024 Dec. 31, 2024 Jan. 31, 2024 Cash Interest Payment Expense Reduction of Principal Principal Balance

Excel to Calculate Mortgage Payment, Amortization chedule, and Entries PROBLEM iomez Inc, signed a mortgage payable on November 30, 2024, ith a bank to obtain financing for a new building. Instaliment ayments are to be made at the end of each month. formation for the mortgage follows. Student Work Area Required: Provide input into cells shaded in vellow in this template. Use the PMr function to calculate the payment and mathematical formulas with cell references to the Problem ares and work area as indicated. a. Use Excel's PMT function to calculate the amount of each installment payment. Mortgage payment calculation b. Prepare a partial amortutation table through January 31, 2021. b. Prepare a partial amortization table through January 31,2021 Prepare the entries to record the mortgage on November 30,2024 , and the first two