Question: Question 2, Part 2 (50 points): You decide on the -year from Question 2 Part You are uncertain about whether you will be living the

Question 2, Part 2 (50 points): You decide on the -year from Question 2 Part You are uncertain about whether you will be living the same house location for the next 15 years and are interested in how much you will owe on the your mortgage if you choose to sell your house before the loan matures Without using an amortization table, create a table using IPMT, PPMT and PV functions that allow you to determine (a) what portion of your payment will consist of principal , (b) what portion will consist of interest, and () your remaining balance of the loan for any monthly period Now that you have created the table, what is the remaining balance on your loan if you decide to sell exactly six years after purchasing the house? WRITE HERE: Question 2, Part 2 (50 points): You decide on the -year from

1 Question 2, Part 2 (50 points): You decide on the 15-year loan from Question 2 Part 1. You are uncertain about whether you will be living in the same house/location for the S next 15 years and are interested in how much you will owe on the your mortgage if you choose to sell your house before the loan matures. Without using an amortization table, create a table using IPMT, PPMT and PV functions that allow you to determine (a) what portion of 7 your payment will consist of principal, (b) what portion will consist of interest, and (c) your remaining balance of the loan for any monthly period. 6 8 3 30 Now that you have created the table, what is the remaining balance on your loan if you decide to sell exactly six years after purchasing the house? WRITE HERE: 2) 24 AS 16 17 29 20 21 22 21 24 25 26 27 28 29 10 31 92 33 54 55 36

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