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How would your amortization schedule change

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Question - You have purchased a home using a $480,000 mortgage. The mortgage charges interest of 5% APR, which is compounded semiannually. You will be making monthly payments on your loan for 27 years.

a) Develop a spreadsheet in Excel that shows the amortization schedule of your loan.

b) How would your amortization schedule change if interest were to be compounded quarterly and the payments were monthly?

Reference no: EM132996137

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