Question: 1. Create an amortization schedule in an Excel spreadsheet for a fixed-rate, fully amortizing mortgage loan using the information below: Cost of house: $475,000

1. Create an amortization schedule in an Excel spreadsheet for a fixed-rate,

1. Create an amortization schedule in an Excel spreadsheet for a fixed-rate, fully amortizing mortgage loan using the information below: Cost of house: $475,000 Down payment: 20% Mortgage term: 30 years Nominal annual interest rate: 5.55% Type of mortgage: Fixed rate, conventional Payments: Monthly Discount points: 3 Ensure that there are columns for the month/payment number (i.e., 1, 2, 3....), beginning loan balance, payment amount, monthly interest amount, monthly principal amount, and ending loan principal balance for each month. In other words, there should be a separate line entry for each month over the life of the loan with all the requested information. Use the Excel TVM functions or mathematical formulas for all monthly cell entries, except for the month numbers.

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