You wish to buy a $400,000 house, using a 20-year mortgage and putting 20% as a cash down payment. The current interest rate is 5.25% compounded monthly. Set up a loan table. What is your monthly payment? For each month, what portion of that payment goes to the principal and what goes to paying interest? Create a mortgage amortization table to show your solution.

Pay attention to formatting and do not hardcode numbers into your formulas.

Show in excel and set up a loan table along with an amortization table.

Answer rating: 100% (QA)

Principal Purchase value cash down 400000 40000020 40000080000 320000 EMI Pr1in1in1 P320000 i rate per period 0052512 0004375 n no of months 2012 240 Excel Formula Principal 320000 period 240 rate 005... View the full answer