Question: 2. Construct an amortization schedule for the $300,000 loan with a 2.7% interest rate compounded monthly. The loan will be paid back in 30 years

2. Construct an amortization schedule for the $300,000 loan with a

2. Construct an amortization schedule for the $300,000 loan with a 2.7% interest rate compounded monthly. The loan will be paid back in 30 years making monthly payments. You need to calculate the principal payment and interest payment respectively of each month. Hint: Please refer the excel file of "Loan Amortization "posted in Unit 4 "Lecture". Specifically, you need to modify the model from "yearly" payment to "monthly" mortgage payment. 30 years *12 = 360 months. You should demonstrate 360 principal payments and interest payments for each month

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