Question: Section 2: Loan Amortization (Submit in Excel) 1. Construct an amortization schedule for the $300,000 loan with a 2.2% interest rate compounded monthly. The loan

Section 2: Loan Amortization (Submit in Excel) 1. Construct an amortization schedule for the $300,000 loan with a 2.2% interest rate compounded monthly. The loan will be paid back i 15 years making monthly payments. You need to calculate the principal payment and interest payment respectively of each month. Hint: Please refer to the excel file of \"Loan Amortization \"posted in Unit 4 \"Lecture\". Specifically, you need to modify the model from \"yearly\" payment to \"monthly\" mortgage payment. 15 years *12 = 180 months. You should demonstrate 180 principal payments and interest payments for each month. Construct an amortization schedule for the $300,000 loan with a 2.7% interest rate compounded monthly. The loan will be paid back i 30 years making monthly payments. You need to calculate the principal payment and interest payment respectively of each month. Hint: Please refer the excel file of \"Loan Amortization \"posted in Unit 4 \"Lecture\". Specifically, You need to modify the model from \"yearly\" payment to \"monthly\" mortgage payment. 30 years *12 = 360 months. You should demonstrate 360 principal payments and interest payments for each month

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