Question

1.Consider a 15-year monthly annuity-style loan for $300,000. The fixed interest rate is 8.125% MEY. Amortize the loan and graph (1) payment, interest paid and principal paid v time, and separately (2) the loan balance over time. Make sure the graphs are at the top of a separate tab and suitable cleaned up.(USE EXCEL SPREADSHEET)

Answer 1

Payment Number	Total Payment	Interest Paid	Principal Paid	Ending Balance
1	2889	2031	857	$299,143
2	2889	2025	863	$298,279
3	2889	2020	869	$297,410
4	2889	2014	875	$296,535
5	2889	2008	881	$295,655
6	2889	2002	887	$294,768
7	2889	1996	893	$293,875
8	2889	1990	899	$292,976
9	2889	1984	905	$292,071
10	2889	1978	911	$291,160
11	2889	1971	917	$290,243
12	2889	1965	923	$289,319
13	2889	1959	930	$288,390
14	2889	1953	936	$287,454
15	2889	1946	942	$286,511
16	2889	1940	949	$285,563
17	2889	1933	955	$284,607
18	2889	1927	962	$283,646
19	2889	1921	968	$282,678
20	2889	1914	975	$281,703
21	2889	1907	981	$280,722
22	2889	1901	988	$279,734
23	2889	1894	995	$278,739
24	2889	1887	1001	$277,738
25	2889	1881	1008	$276,730
26	2889	1874	1015	$275,715
27	2889	1867	1022	$274,693
28	2889	1860	1029	$273,664
29	2889	1853	1036	$272,628
30	2889	1846	1043	$271,586
31	2889	1839	1050	$270,536
32	2889	1832	1057	$269,479
33	2889	1825	1064	$268,415
34	2889	1817	1071	$267,344
35	2889	1810	1079	$266,265
36	2889	1803	1086	$265,179
37	2889	1795	1093	$264,086
38	2889	1788	1101	$262,986
39	2889	1781	1108	$261,878
40	2889	1773	1116	$260,762
41	2889	1766	1123	$259,639
42	2889	1758	1131	$258,508
43	2889	1750	1138	$257,370
44	2889	1743	1146	$256,224
45	2889	1735	1154	$255,070
46	2889	1727	1162	$253,909
47	2889	1719	1169	$252,739
48	2889	1711	1177	$251,562
49	2889	1703	1185	$250,376
50	2889	1695	1193	$249,183
51	2889	1687	1201	$247,981
52	2889	1679	1210	$246,772
53	2889	1671	1218	$245,554
54	2889	1663	1226	$244,328
55	2889	1654	1234	$243,094
56	2889	1646	1243	$241,851
57	2889	1638	1251	$240,600
58	2889	1629	1260	$239,340
59	2889	1621	1268	$238,072
60	2889	1612	1277	$236,795
61	2889	1603	1285	$235,510
62	2889	1595	1294	$234,216
63	2889	1586	1303	$232,913
64	2889	1577	1312	$231,602
65	2889	1568	1321	$230,281
66	2889	1559	1329	$228,952
67	2889	1550	1338	$227,613
68	2889	1541	1348	$226,266
69	2889	1532	1357	$224,909
70	2889	1523	1366	$223,543
71	2889	1514	1375	$222,168
72	2889	1504	1384	$220,784
73	2889	1495	1394	$219,390
74	2889	1485	1403	$217,987
75	2889	1476	1413	$216,574
76	2889	1466	1422	$215,152
77	2889	1457	1432	$213,720
78	2889	1447	1442	$212,278
79	2889	1437	1451	$210,827
80	2889	1427	1461	$209,366
81	2889	1418	1471	$207,895
82	2889	1408	1481	$206,414
83	2889	1398	1491	$204,923
84	2889	1387	1501	$203,422
85	2889	1377	1511	$201,910
86	2889	1367	1522	$200,389
87	2889	1357	1532	$198,857
88	2889	1346	1542	$197,315
89	2889	1336	1553	$195,762
90	2889	1325	1563	$194,199
91	2889	1315	1574	$192,625
92	2889	1304	1584	$191,041
93	2889	1294	1595	$189,446
94	2889	1283	1606	$187,840
95	2889	1272	1617	$186,223
96	2889	1261	1628	$184,595
97	2889	1250	1639	$182,956
98	2889	1239	1650	$181,306
99	2889	1228	1661	$179,645
100	2889	1216	1672	$177,973
101	2889	1205	1684	$176,289
102	2889	1194	1695	$174,594
103	2889	1182	1706	$172,888
104	2889	1171	1718	$171,170
105	2889	1159	1730	$169,440
106	2889	1147	1741	$167,699
107	2889	1135	1753	$165,946
108	2889	1124	1765	$164,180
109	2889	1112	1777	$162,403
110	2889	1100	1789	$160,614
111	2889	1087	1801	$158,813
112	2889	1075	1813	$157,000
113	2889	1063	1826	$155,174
114	2889	1051	1838	$153,336
115	2889	1038	1850	$151,486
116	2889	1026	1863	$149,623
117	2889	1013	1876	$147,747
118	2889	1000	1888	$145,859
119	2889	988	1901	$143,958
120	2889	975	1914	$142,044
121	2889	962	1927	$140,117
122	2889	949	1940	$138,177
123	2889	936	1953	$136,224
124	2889	922	1966	$134,258
125	2889	909	1980	$132,278
126	2889	896	1993	$130,285
127	2889	882	2007	$128,279
128	2889	869	2020	$126,259
129	2889	855	2034	$124,225
130	2889	841	2048	$122,177
131	2889	827	2061	$120,116
132	2889	813	2075	$118,041
133	2889	799	2089	$115,951
134	2889	785	2104	$113,848
135	2889	771	2118	$111,730
136	2889	757	2132	$109,598
137	2889	742	2147	$107,451
138	2889	728	2161	$105,290
139	2889	713	2176	$103,114
140	2889	698	2190	$100,924
141	2889	683	2205	$98,718
142	2889	668	2220	$96,498
143	2889	653	2235	$94,263
144	2889	638	2250	$92,013
145	2889	623	2266	$89,747
146	2889	608	2281	$87,466
147	2889	592	2296	$85,169
148	2889	577	2312	$82,857
149	2889	561	2328	$80,530
150	2889	545	2343	$78,186
151	2889	529	2359	$75,827
152	2889	513	2375	$73,452
153	2889	497	2391	$71,061
154	2889	481	2408	$68,653
155	2889	465	2424	$66,229
156	2889	448	2440	$63,789
157	2889	432	2457	$61,332
158	2889	415	2473	$58,859
159	2889	399	2490	$56,369
160	2889	382	2507	$53,862
161	2889	365	2524	$51,338
162	2889	348	2541	$48,797
163	2889	330	2558	$46,239
164	2889	313	2576	$43,663
165	2889	296	2593	$41,070
166	2889	278	2611	$38,459
167	2889	260	2628	$35,831
168	2889	243	2646	$33,185
169	2889	225	2664	$30,521
170	2889	207	2682	$27,839
171	2889	188	2700	$25,139
172	2889	170	2718	$22,421
173	2889	152	2737	$19,684
174	2889	133	2755	$16,928
175	2889	115	2774	$14,154
176	2889	96	2793	$11,362
177	2889	77	2812	$8,550
178	2889	58	2831	$5,719
179	2889	39	2850	$2,869
180	2869	19	2850	$0