Question: Construct a loan amortization table for a 20-year fixed rate mortgage with annual interest rate of 3.6%. The amount borrowed is $500,000. In addition, compute

Construct a loan amortization table for a 20-year fixed rate mortgage

Construct a loan amortization table for a 20-year fixed rate mortgage with annual interest rate of 3.6%. The amount borrowed is $500,000. In addition, compute the WAL (weighted average life) of the loan. Assume there is no prepayment throughout the life of the loan. + Please use EXCEL to complete this question. The loan amortization table should show the monthly mortgage payment, monthly interest payment and principal repayment, and monthly beginning/ending loan balance. (50 points) Construct a loan amortization table for a 20-year fixed rate mortgage with annual interest rate of 3.6%. The amount borrowed is $500,000. In addition, compute the WAL (weighted average life) of the loan. Assume there is no prepayment throughout the life of the loan. + Please use EXCEL to complete this question. The loan amortization table should show the monthly mortgage payment, monthly interest payment and principal repayment, and monthly beginning/ending loan balance. (50 points)

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