Use Excel to develop a worksheet showing the monthly payment of a real estate loan as the amortization table for it showing zero balance at the end of its term (place – before the loan/principal amount in the function. You will need to show 360 pay period in your amortization table:
Loan Amount: $ 500,000
Down Payment: 20%
Loan Amount: to be calculated
Annual Interest Rate: 6%
Term of the loan: 30 years fixed- loan will be fully paid off at the end of the term.
Monthly Payment: To be calculated
Amortization Table: to be created
Useful Functions: PMT, IPMT, PPMT
Please submit the Excel file (do not zip)
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