Question: Modify the spreadsheet from Problem 41 to handle a term of 1 to 360 months. Test your spreadsheet by entering data from Appendix E and

Modify the spreadsheet from Problem 41 to handle a term of 1 to 360 months. Test your spreadsheet by entering data from Appendix E and Problems 11 through 14. Compare your answer to the solutions to these problems. There may be some minor differences due to the way rounding is handled in the spreadsheet versus the problems. Be sure to adjust your last payment to bring the balance to zero at the end of the term.

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Amortization Schedule Annual Percentage Rate 9000 Term 360 Principal 15000000 Monthly Payment 120693 Beginning Monthly Monthly Principal Ending Month Principal Payment Interest Reduction Balance Total... View full answer

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