An amortization schedule is a common concept within a banking enterprise. Create your own amortization...
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An amortization schedule is a common concept within a banking enterprise. Create your own amortization schedule for a $10,000 loan with monthly payments paid over two years. Assume the annual percentage rate (APR) is 4%. Create the amortization schedule within Excel or another spreadsheet application. Use page 184 as a template. Keep in mind that the example on page 184 uses annual payments, while your schedule will use monthly payments. You will need to adjust the number of payment periods and period interest rates accordingly (e.g. - 2 years = 24 payment periods [months]; 4% annual interest = 0.33% period [monthly] interest). Attach your Excel document to your post.
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