explain the calculation with using formula not by the excel function as it is asked.

Mortgage Problem: You take out a 10-year mortage of $232.600 with an APR of 3.125% with monthly payments. The first payment is due immediately. Construct the amortization schedule for the loan using cell references or formulas.. Answers are provided below for your reference. Input Data Original amount of mortgage $ 232,600 Term of mortgage 10 Number of payment in a year 12 APR 3.125% Start to work below using formula or cell reference Interest rate per month 0.260% Number of payment period in contract 120 Monthly Mortgage Payment $2,253.58 Use PMT function or fomula to calculate. Month Beg. Amt. 0 $232,600 1 $230,346 2 $228,693 3 $227,035 + $225,372 5 $223,706 6 $222,035 7 $220,359 8 $218,680 9 $216,995 10 $215,307 11 $213,614 107 $28,769 108 $26,591 109 $24,406 110 $22,216 111 $20,021 112 $17,819 Payment $2,253.58 $2,253.58 $2,253.58 $2,253.58 $2,253.58 $2.253.58 $2,253.58 $2,253.58 $2,253.58 $2.253.58 $2,253.58 $2,253.58 $2.253.58 $2.253.58 $2,253.58 $2,253.58 $2,253.58 $2,253.58 Interest PrincipalEnd. Bal. $ $2,253.58 $230,346 Do not use any Excel functions for the amortization schedule. $ 599.86 $1,653.72 $228,693 Instead, calculate it yourself $ 595.55 $1,658.03 $227,035 $ 591.24 $1,662.34 $225,372 $ 586.91 $1,666.67 $223,706 $ 582.57 $1.671.01 $222,035 $ 578.22 $1,675.36 $220,359 $ 573.85 $1,679.73 $218,680 $ 569.48 $1,684.10 $216,995 $ 565.09 $1,688.49 $215,307 $ 560.70 $1,692.88 $213,614 $ 556.29 $1,697.29 $211,917 $ 74.92 $2,178.66 $26,591 $ 69.25 $2,184.33 $24,406 $ 63.56 $2,190.02 $22.216 $ 57.86 $2,195.73 $20,021 $ 52.14 $2,201.44 $17,819 $ 46.40 $2,207.18 $15,612