Question: Chapter 5 Test: Using the following information, develop an amortization table and calculate the numbers using excel. Loan Amount: $250,000 Interest rate: 3% Period: 30

Chapter 5 Test: Using the following information, develop an amortization table

Chapter 5 Test: Using the following information, develop an amortization table and calculate the numbers using excel. Loan Amount: $250,000 Interest rate: 3% Period: 30 years Assume you wanted to pay $50 extra to your monthly payment. How much sooner will you finish paying for the home, in years? What if you wanted to pay some more? Play around with 2 different amounts

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