Answer Happy

How much is the loan balance pay-off of a home that has undergone 5 years of uninterrupted amortized loan payments of both principle and interest. Assume a fixed interest rate of 4.25% with a monthly compound, for a home that has an existing loan amount of $280,000 for a 15 year loan. Create an excel program that will clearly identify interest and principle reductions within a 15 year period on a monthly basis.