13. pepare an excel amortization table

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
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13.

pepare an excel amortization table

2- Prepare the loan amortization table/schedule from scratch (not the Excel template) for a
$300,000, 15-year ARM mortgage with 2% annual cap & 5% life cap; negative amortization
allowed.
Initial Payments based on 10% rate of interest.
Composite rate in year 1 = 12%.
Composite rate in year 2-15 = 14%.
Transcribed Image Text:2- Prepare the loan amortization table/schedule from scratch (not the Excel template) for a $300,000, 15-year ARM mortgage with 2% annual cap & 5% life cap; negative amortization allowed. Initial Payments based on 10% rate of interest. Composite rate in year 1 = 12%. Composite rate in year 2-15 = 14%.
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