Question: Construct an amortization schedule for the $300,000 loan with a 2.2% interest rate compounded monthly. The loan will be paid back in 15 years making

  1. Construct an amortization schedule for the $300,000 loan with a 2.2% interest rate compounded monthly. The loan will be paid back in 15 years making monthly payments. You need to calculate the principal payment and interest payment respectively of each month.
  2. Construct an amortization schedule for the $300,000 loan with a 2.7% interest rate compounded monthly. The loan will be paid back in 30 years making monthly payments.You need to calculate the principal payment and interest payment respectively of each month.

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