Questions: FIN310 Graded Project: Corporate Finance First, you'll need to create a loan amortization schedule in the downloaded Excel spreadsheet. Create the table on the tab named "Part 2 Loan Amortization Sched." The following table illustrates the payments and interest amounts for a fixed-rate, 30-year, 500,000 mortgage, at a five-percent interest rate. The monthly payment will be 2,684.11. Payment Number Payment Amount 5% Interest Expense Principal Balance Annual Interest Expense --- --- --- --- --- --- 0 500,000.00
Transcript text: FIN310 Graded Project: Corporate Finance
First, you'll need to create a loan amortization schedule in the downloaded Excel spreadsheet. Create the table on the tab named "Part 2 Loan Amortization Sched." The following table illustrates the payments and interest amounts for a fixed-rate, 30-year, $\$ 500,000$ mortgage, at a five-percent interest rate. The monthly payment will be $\$ 2,684.11$.
\begin{tabular}{|c|c|c|c|c|c|}
\hline \begin{tabular}{c}
Payment \\
Number
\end{tabular} & \begin{tabular}{c}
Payment \\
Amount
\end{tabular} & \begin{tabular}{c}
5\% Interest \\
Expense
\end{tabular} & Principal & Balance & \begin{tabular}{c}
Annual \\
Interest \\
Expense
\end{tabular} \\
\hline 0 & & & & $500,000.00$ & \\
\hline & & & & \\
\hline
\end{tabular}
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