Please I need your help. How do I produce an amortisation schedule to calculate mortgage repayment? 10 points ?
I dont know how use excel, websites dont help either. ive got coursework due for Wedneday and Ive been trying but im finding this a bit.
What do i do after entering in the stupid values. it just gives me a sum in red with no schedule. How do i begin to produce one.
The final value must be 0 because the mortgage must be totally repaid.
Rate = 1.012994513% (I think)
Nper = 24 (6 years x 4 payments each year)
Present Value = 224, 950
Future value = 0 (aim is to kill the debt off)
If you use Excel, then I believe it has a formula to work it out.
http://www.1-on-1.biz/MicrosoftOffice/MicrosoftExcel/excelmortgagecalculation.asp
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