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Mr. and Mrs. Smith have just purchased a $600,000 house and have made a down payment of$120,000. They can amortize the balance at 4% for 30 years. Using Excel, populate the following amortization table: payment number 1, 60,180,240,300,360 monthly payment principle interest amount paid on loan

Mr. and Mrs. Smith have just purchased a $600,000 house and have made a down payment of$120,000. They can amortize the balance at 4% for 30 years. Using Excel, populate the following amortization table: payment number 1, 60,180,240,300,360 monthly payment principle interest amount paid on loan

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 10P: Comprehensive Part a. Reproduced in the following table are the first three lines from the 2%...
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Mr. and Mrs. Smith have just purchased a $600,000 house and have made a down payment of$120,000. They can amortize the balance at 4% for 30 years.

Using Excel, populate the following amortization table:

payment number 1, 60,180,240,300,360

monthly payment

principle

interest amount paid on loan 

c. Using Excel, populate the following amortization table: Payment Monthly Principal Interest Amount Paid on Loan Number Payment 1 60 180 240 300 360
Transcribed Image Text:c. Using Excel, populate the following amortization table: Payment Monthly Principal Interest Amount Paid on Loan Number Payment 1 60 180 240 300 360
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