Question: Create an amortization table for a 30 year, 5% fixed rate, $500,000 monthly-pay loan. Assume that in addition to the required principal and interest payment

Create an amortization table for a 30 year, 5% fixed rate, $500,000 monthly-pay loan. Assume that in addition to the required principal and interest payment each month, you pay an extra $300.

What is the total amount of interest paid?

Be sure to adjust the last payment so that you are not paying more than you owe. State your answer in dollars, without a dollar sign, and rounded to the nearest dollar.

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