A
fully amortizing mortgage loan is made for $200,000 at 6 percent
interest for 30 years. Payments are to be made monthly. (Ignore
origination fee and other fees).
a. Using Excel, construct fully
amortizing mortgage loan table including beginning balance,
payment, interest, principal, and ending balance. (Please check
your ending balance by using PV function in Excel)
b. Interest and principal payments
during month 1.
c. Total Principal and total
interest paid over 30 years.
d. The outstanding loan balance...