You plan is to buy an apartment building using a $1,800,000 loan. The interest rate is 3% APR, compounded monthly, and you will finance it with a 30 year fixed loan. You may also place an additional $500 (I.E. the rent from one of the units) toward the loan principle each month.

1) What is your monthly payment?

2) Create an amortization table in excel that includes the $500 additional monthly payment.