Question: ADVANCED PROBLEMS FOR SPREADSHEET APPLICATION can you show the formula? thanks 1. Monthly amortization schedule. Sherry and Sam want to purchase a condo at the

ADVANCED PROBLEMS FOR SPREADSHEET APPLICATION

can you show the formula? thanks

1. Monthly amortization schedule. Sherry and Sam want to purchase a condo at the coast. They will spend $650,000 on the condo and are taking out a loan for the whole amount for the condo for twenty years at 7.0% interest.

a. What is the monthly payment on the mortgage? Construct the amortization of the loan for the twenty years in a spreadsheet to show the interest cost, the principal reduction, and the ending balance each month.

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