(Answered) 1 construct an amortization schedule for the 300000 loan

Finance

1. Construct an amortization schedule for the $300,000 loan with a 3.5% interest rate compounded monthly. The loan will be paid back in 15 years making monthly payments.

Identify the principal and interest payment of each month.

Hint: Please use the excel file of "Loan Amortization

2. Construct an amortization schedule for the $300,000 loan with a 3.8% interest rate compounded monthly. The loan will be paid back in 30 years making monthly payments.

Hint: Now you need to "modify the loan amortization model" to 30 years as required.

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