Question: Use Excel to answer the question: You are planning to purchase a house which will cost $400,000. You plan to take a 20-year mortgage. Yearly

Use Excel to answer the question:

You are planning to purchase a house which will cost $400,000. You plan to take a 20-year mortgage. Yearly interest rate is 4.0%. You will make monthly payments.

Develop a loan amortization schedule. (show calculations for all years: Initial loan, Payment, Interest, Principal, End loan).

Use spin button for the initial loan and yearly rate.

Use 'Data Table' option to create different scenarios for monthly payments (using different values for 'mortgage year' and 'yearly rate')

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