Using MS Excel A couple purchased a house and lot and signed a mortgage contract with a bank for P8,000,000 to be paid in equal monthly payments over 25 years with interest at 5.25%. Find the monthly payment and construct an amortization table. (Show the first 6 payments only)

Using MS Excel A couple purchased a house and lot and signed a mortgage contract with a bank for P8,000,000 to be paid in equal monthly payments over 25 years with interest at 5.25%. Find the monthly payment and construct an amortization table. (Show the first 6 payments only)

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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Using MS Excel

A couple purchased a house and lot and signed a mortgage contract with a bank for P8,000,000 to be paid in equal monthly payments over 25 years with interest at 5.25%. Find the monthly payment and construct an amortization table. (Show the first 6 payments only)

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