You bought a house for $1,000,000. You paid 20% as the down payment and financed the rest. The mortgage loan has 30 years maturity and 4% APR which is compounded monthly. Use Excel Spread sheet to amortize the loan and find out the monthly principle and interest payments through out the life of this loan. I need this on an excel spreadsheet

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Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.