Calculate the monthly installment

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Reference no: EM131886693

A $300,000 loan is being repaid with equal monthly payments for 20 years at an interest rate of 10% compounded monthly per annum.

a) Calculate the monthly installment. (don’t round for all calculations below)

b) Using Excel create a complete amortization schedule for this loan. Print only the first 10 installments and last ten installments of the table.

Amortizatization table should include time, payment, interest, principle, and outstanding balance columns.

Reference no: EM131886693

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