Question: Please solve using Microsoft Excel Elvis took out a mortgage of RM200,000 to be repaid by level monthly installments payable in arrears for 25 years

Please solve using Microsoft Excel Please solve using Microsoft Excel Elvis took out a mortgage of RM200,000

Elvis took out a mortgage of RM200,000 to be repaid by level monthly installments payable in arrears for 25 years with nominal interest rate of i convertible monthly. After 5 years, right after his 60th monthly installment, Elvis has received an inheritance of RM60,000. Elvis has two options in settling the mortgage: Option 1 - Elvis uses the full amount of the inheritance to immediately reduce the outstanding balance. Option 2 - Elvis chooses to continue to pay the original monthly installment calculated, with the remaining term of the loan reduce accordingly. Total accumulated interest in the second option is $41,785.70. You are required to construct a complete amortization table for all three mortgage arrangement based on the information given above. Elvis took out a mortgage of RM200,000 to be repaid by level monthly installments payable in arrears for 25 years with nominal interest rate of i convertible monthly. After 5 years, right after his 60th monthly installment, Elvis has received an inheritance of RM60,000. Elvis has two options in settling the mortgage: Option 1 - Elvis uses the full amount of the inheritance to immediately reduce the outstanding balance. Option 2 - Elvis chooses to continue to pay the original monthly installment calculated, with the remaining term of the loan reduce accordingly. Total accumulated interest in the second option is $41,785.70. You are required to construct a complete amortization table for all three mortgage arrangement based on the information given above

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