a) Using the following information please prepare an Amortization Schedule in Excel. Down payment: $51,004.56 Loan amount:

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a) Using the following information please prepare an Amortization Schedule in Excel.

Down payment: $51,004.56

Loan amount: $163,215.61

PMI: NO PMI

Interest Rate: 5.625%

Term: 30 year mortgage/360 months

Monthly payment: $939.56

b) What is the sum total of the interest portions of your payments for all months in year 12?

c) What are the two different methods of calculating the principal and interest portions in excel? What are the pros and cons of each?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Mar 20, 2023 12:42 AM

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a) Using the following information please prepare an Amortization Schedule in Excel. Down payment: $51,004.56 Loan amount:

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a Amortization Schedule in Excel Here is an example of how you can create an amortization schedule in Excel based on the provided information 1 Open a ... View the full answer

Income Tax Fundamentals 2013

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