Question: Working from the top down, enter data needed from the text question. Calculate a solution for each cell back-lighted in yellow. Build your formulas in

 Working from the top down, enter data needed from the text

Working from the top down, enter data needed from the text question. Calculate a solution for each cell back-lighted in yellow. Build your formulas in calculation cells by referencing cells above that in turn reference numbers directly from the text problem. ---I'm basically just looking for the formulas for the Amortization Table.

A B F G H 1 E f Partitioning Return of Principal and Interest for an Amortized Loan 1 w N 4 How many monthly payments remain to be paid on an 3.40% mortgage with 30 year amortization and monthly payments of $532.18 when the balance reaches approximately one-half of its initial $120,000.00 amount? ch 6 7 Payments remaining when remaining balance is $60,000.00 136.01916 8 9 Interest paid over the life of the loan= $71,583.8927 10 11 Amortization Schedule Month-End Monthly Interest Due Payment 12 Ammortization of Loan 13 14 15 16 17 18 Payment Remaining Number Principal 1 2 3 4 5 6 7 8 9 10 11 12 13 14 19 20 21 22 23 24 25 26

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!