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 1 Assume you wanted to make bi-weekly payments, (no extra payments) that is once every 2 weeks. How much sooner will you finish paying for the home in years? (Remember, there are 52 weeks in a year. And so, there will be 52/2 =? bi-weekly periods in a year

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