Build a loan amortization schedule using goal seek. The info of the loan:
Amount of the loan: $500,000
Length of the loan: 30 years
Interest rate: 4% for the first 15 years, and 5% for the rest of the 15 years.
Payment:
During the first 15 years, the borrower pays fixed amount of payment. Then during the second 15 years, the borrower pays another fixed amount of payment thatâs 3% more than that in the first 15-year period.