You got a new job as a university professor and want to settle down at East...

You got a new job as a university professor and want to settle down at East Lansing. You found a nice house which is selling for $500,000. You decided to pay a down payment of 10% (no closing cost), and borrow rest of the amount from the bank. This is a fixed payment loan that lasts for 10 years with annual payments. Interest rate is 6%.

Build the amortization table in Excel and show all the numbers.

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jeff jeffy answered 1 year ago

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