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.