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In this video tutorial, the focus is on creating an amortization schedule for a mortgage or loan of $300,000 with a 30-year term at a 5% annual interest rate, starting on July 1, 2020. The total number of payments, calculated in cell D1, is 360, derived from multiplying the 30-year term by 12 months. The monthly interest rate is determined by dividing the annual rate by 12. To calculate the monthly mortgage payment, the PMT function is used, with the monthly rate referenced from cell D2. The tutorial provides a step-by-step guide on how to set up these calculations in a spreadsheet.