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Use Excel to construct an amortization table for t...

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Question

Use Excel to construct an amortization table for the following mortgage. In the amortization table, provide all the information listed below. (Assuming interest is compounded monthly and payments are due at the end of the month). For a 10-year variable-rate-level-payment mortgage (VRM) of $480,000 with the following mortgage rates: Years 1-2: 4.20%, Years 3-5: 5.45%, Years 6-10: 6.75% Compute and illustrate the following in an amortization table: ? Monthly Payment of the mortgage. ? Mortgage Balance Remaining at the end of each month (Total 120 months) ? Principal Repayment for each month. ? Interest Expenses for each month and the life of the loan. (Hints: Monthly payments vary over time! Just repay the principle once!).,Hi This is very very good Presentation 100% satisfied thank you

 

Paper#11945 | Written in 18-Jul-2015

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