The project must be turned in on a floppy diskette along with the print out. The project is due November 20th.

The amortization table should be organized as follows:

Loan Amount | ||||

Annual Interest Rate | ||||

Payments Per Year | ||||

Amortization Period | ||||

Initial Payment* | ||||

Annual increase for GEM** | ||||

Payment Number |
Payment Amount |
Interest Paid |
Principal Paid |
Remaining Balance |

1 | ||||

2 |

*This amount should be calculated by the spreadsheet using the values from the cells above. This way you can change the interest rate or principal amount and automatically the spreadsheet program will compute the new amortization schedule.

**This is only necessary for the Growing Equity Mortgage.