Question
You must provide an Excel file that has 4 tabs. Below are the 4 types of mortgages to build in Excel. 1) On the first
You must provide an Excel file that has 4 tabs. Below are the 4 types of mortgages to build in Excel.
1) On the first tab build the full amortization table for a 30 year Interest Only (IO) Loan with a 5.5% interest rate compounded monthly. The initial loan amount should be $5,000,000.
2) On the second tab build the full amortization table for a 15 year Constant Amortizing Mortgage (CAM) Loan with a 6% interest rate compounded monthly. The initial loan amount should be $7,500,000.
3) On the third tab build the full amortization table for a 30 year Constant Payment Mortgage (CPM) Loan with a 4.5% interest rate compounded monthly. The initial loan amount should be $2,500,000.
4) On the fourth tab build the full amortization table for a 30 year Graduated Payment Mortgage (GPM) Loan with a 6.5% interest rate compounded monthly. The initial loan amount should be $1,500,000. There should be 2 step ups, each a 10% increase. One every 2 years with the 1st through 24th, 25th through 48th, and 49th through 360th payments being the same amount respectively.
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