Question: Hi, I'm seeking help with the attached Assignment #2 attached. Please look into it and let me know. Thanks. 2rd Assignment Loan Amortization Problem Type

Hi, I'm seeking help with the attached Assignment #2 attached. Please look into it and let me know. Thanks.

Hi, I'm seeking help with the attached Assignment #2 attached. Please look

2rd Assignment Loan Amortization Problem Type your full name in the following order First Middle Last Number of letters in full name = 20 Now assume that your annual salary = number of letters in your full name x $45,000 and that the bank you want to borrow from, has determined that it will lend you, loan amount= your annual salary x 2.5 interest rate = number of letters in your full name x 0.9% Assume that you will borrow for 15 years and you will make monthly payments at the end of each month. A) Calculate your monthly payment (Type your calculator inputs, i.e. N=, PV= and so on) B) Calculate the total interest amount you will pay over the life of the loan C) Fill in (type) the missing values in the amortization table below based on your payment found in A. Accuracy should be six decimals. D) E) Month K) 1 Q) 2 W) 3 CC) 4 II) 5 F) Beginning Balance G) Payment H) Interest payment I) Principal Payment J) Ending Balance L) M) N) O) P) R) S) T) U) V) X) Y) Z) AA) BB) DD) EE) FF) GG) HH) JJ) KK) LL) MM) NN) OO) PP) Interest payment = monthly interest rate x beginning balance QQ) Principal payment = payment- interest payment RR) Ending balance = beginning balance - principal payment 2 SS) Beginning balance for period 1 is the amount borrowed, for all other periods it is the ending balance of the previous period. 3 TT) 4

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