Finance- Create a loan amortization schedule using Excel for a $15,000 car loan

| January 30, 2017

Question

Create a loan amortization schedule using Excel for a $15,000 car loan that will be repaid over 60 months at an annual interest rate of 6%.
What is your monthly payment?
What is the total amount of payments made over the life of the loan
Create a loan amortization schedule using Excel for an $180,000 mortgage that will be repaid over 30 years with monthly payments. The annual interest rate is 5.5%.
What is your monthly payment?
What is the total amount of payments made over the life of the loan?
How many years will it take to pay off the loan if you pay an extra $100 per month?

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