The time has come for you to purchase a home. After years of saving you are ready to find the home of your dreams. You have a down payment and now wish to develop an amortization schedule so you can plan your payments. Interest rates are low but may soon be rising. Because you are not sure how long it will take to find just the right home, you wish to examine several different payment plans. You hope to pay off the loan in 20 years.
Develop a worksheet that will show the monthly payment as well as the beginning balance for each year of the loan, the ending balance each year of the loan, the annual cost of the loan, and the annual interest paid for each year of the loan.
Choose a home from www.riliving.com. Enter in the price of the home and what you will be paying for the home. Insert a picture of your home on your spreadsheet.