Excel, create the amortization table for a 15-year mortgage for $950,000 at 4.2% interest. Individual taxpayers...

Excel, create the amortization table for a 15-year mortgage for $950,000 at 4.2% interest. Individual taxpayers may be able to deduct the amount of interest that they paid on a mortgage for a personal residence. If the mortgage was issued on May 1, how much interest will be earned in the first year? How much interest will be earned in the second year? Upload your Excel file below.

I dont know how to create an ammortization in excel. It is due in 5 hours. Thanks :)

Expert Solution

Colby Messinger answered 2 years ago

In Excel, create the amortization table for a 15-year mortgage for $950,000 at 4.2% interest. Individual...

In Excel, create the amortization table for a 15-year mortgage for $950,000 at 4.2% interest. Individual taxpayers may be able to deduct the amount of interest that they paid on a mortgage for a personal residence. If the mortgage was issued on May 1, how much interest will be earned in the first year? How much interest will be earned in the second year? Upload your Excel file below.

In Excel, create the amortization table for a 15-year mortgage for $780,000 at 6.6% interest. Individual...

In Excel, create the amortization table for a 15-year mortgage for $780,000 at 6.6% interest. Individual taxpayers may be able to deduct the amount of interest that they paid on a mortgage for a personal residence. If the mortgage was issued on July 1, how much interest will be earned in the first year? How much interest will be earned in the second year?

Create an amortization table for the following mortgage. a. Mortgage amount is $300,000. b. The mortgage...

Create an amortization table for the following mortgage. a. Mortgage amount is $300,000. b. The mortgage is a 30 year fixed at 4% (paid monthly). c. You pay an additional $100 per month until the mortgage is paid. When will the mortgage be paid off? Please show in Excel along with formulas.

On the second tab build the full amortization table for a 15 year Constant Amortizing Mortgage...

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Please explain, Excel assignment. Prepare an amortization table for a 30-year mortgage where the homeowner is...

Please explain, Excel assignment. Prepare an amortization table for a 30-year mortgage where the homeowner is borrowing $170,000 at a 3.75% interest rate. In addition to the monthly table, provide a summary table showing the interest paid, principal paid, and ending balance on a yearly basis. Create three separate graphs illustrating interest paid over time, principal paid over time, and ending balance over time for the 30 annual periods in the summary table. Repeat the analysis, changing the interest rate...

Excel assignment Prepare an amortization table for a 30-year mortgage where the homeowner is borrowing $170,000...

Excel assignment Prepare an amortization table for a 30-year mortgage where the homeowner is borrowing $170,000 at a 3.75% interest rate. In addition to the monthly table, provide a summary table showing the interest paid, principal paid, and ending balance on a yearly basis. Create three separate graphs illustrating interest paid over time, principal paid over time, and ending balance over time for the 30 annual periods in the summary table. Repeat the analysis, changing the interest rate to 8.75%...

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Bond Amortization and adjusting entry. Use excel to create an amortization table for 10 years and show the adjusting entry for the bond payable for the June payment. Show calculations. Had issued $1,500,000 of 4%, 10-year bond, dated 1/1/18 for $1,383,079 when the market rate was 5%. Interest is paid on June 30 and January 1 using the effective interest rate method. The June payment is included in the Dec. 1 TB. Trial Balance December 1, 2021 Description Debit Credit...

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1) Prepare an amortization table for a 30-year mortgage where the homeowner is borrowing $170,000 at...

1) Prepare an amortization table for a 30-year mortgage where the homeowner is borrowing $170,000 at a 3.75% interest rate. In addition to the monthly table, provide a summary table showing the interest paid, principal paid, and ending balance on a yearly basis. Create three separate graphs illustrating interest paid over time, principal paid over time, and ending balance over time for the 30 annual periods in the summary table. 2) Repeat the analysis, changing the interest rate to 8.75%...

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