Question: Please show cell referencing!!!! i need help learning to do the problem j. Suppose you bought a house and took out a mortgage for $50,000.





j. Suppose you bought a house and took out a mortgage for $50,000. The interest rate is 8%, and waw wast amavize the lawn over 10 vears with caunl end-of-vear pavments. Set up an amortization goes to pay off the iterest income to Go back to cells D181 and D182, and change the interest rate and the term to maturity to see how the payments would change. ii. Suppose the loan called for 10 years of monthly payments, with the same original amount and the same nominal interest rate. What would the amortization schedule show now? Now we would have a 1210=120 payment loan at a monthly rate of .08/12=0.666667%. The monthly payment would be: 1237 \begin{tabular}{|l|} \hline 57 \\ \hline 58 \\ \hline 59 \\ \hline 60 \\ \hline 61 \\ \hline 62 \\ \hline 63 \\ \hline 64 \\ \hline 65 \\ \hline 66 \\ \hline 67 \\ \hline 68 \\ \hline 69 \\ \hline 70 \\ \hline 71 \\ \hline 72 \\ \hline 73 \\ \hline 74 \\ \hline 75 \\ \hline 76 \\ \hline 77 \\ \hline 78 \\ \hline 79 \\ \hline 80 \\ \hline 81 \\ \hline 82 \\ \hline 83 \\ \hline 84 \\ \hline 85 \\ \hline \end{tabular}
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
