Question: Please solve in excel and show excel formula 3 Several years ago, a $. 2,000,000 fixed rate, monthly amortizing mortgage was issued for 20 years

Please solve in excel and show excel formula

Please solve in excel and show excel formula 3 Several years ago,

3 Several years ago, a $. 2,000,000 fixed rate, monthly amortizing mortgage was issued for 20 years at 5.5% rate. The monthly payment is $13,758. 3.2% Prepayment penalty is applied to the loan balance. It is calculated at $34,130 Consider no friction costs during origination of the loan. What is the loan balance at this time? 3a 2 3b 2 What is the EBC if the loan is pre-paid now

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