Asked by Uaeman, uae • Tue Nov 6, 2007
1. Based on your income and credit history, you qualify for Dhs. l, 500,000. = PV
2. You will be required to required to make monthly payments (interest principal)
3. The tenor of the mortgage is 30 years. = n
4. The bank's required rate of return 8% = i
Using the above information and Microsoft Excel, please construct a full amortization table showing the opening balance, interest payments, principal payments, the ending balance for all years till the mortgage is full paid-off.
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