Question

Question 16 1 pts Excel Questions 13-16. Complete the amortization table provided in the Excel document posted in Ivy Learn in the homework area by setting the appropriate values for a $100.000. 30-year mortgage at 6% interest and using Excel's autofill (drag) feature to fill in the cells to the end of the mortgage period. Use this to answer the following: How many months will it take to pay at least half of the principal?

Answer 1

The person will take 252 months to repay half of the principal. You can use the formulas PPMT for principal, IPMT for interest and PMT for EMI.The loan amortization schedule is as below:

https://docs.google.com/spreadsheets/d/1fBu2WU5iVZpQOafhTUIg_ygvv02S_mK4a1Tdj37l5X0/edit?usp=sharing

PS: The loan schedule is too long to attach here. You can find it in the above link. It is not possible to attach it as a picture too.