016 B D E H Depreciation Conditions Loog tenants cost Salage valne (salvage) Life of ante $800,000 $128,000 10 3 Loan Conditions Amounts 4 Loan amount (pu $800,000 5 Anmal interest rate 4499 6 Monthly intentate rate 0.37% 7 Loan poodin rean 10 5 Loan penodis months lapes) 120 9 Monthly part 58.272 10 Start date of low 1/6/2002 11 12 Annual Principal and Cumulative Interest Payments 13 Year 14 1 13 Month 34 Vesna 99 1998 161 4 6 7 8 9 10 3 25 36 37 5 49 60 61 85 73 84 97 LOS 109 120 15 72 96 Total $0 $0 $600,000 $800.000 100 $500,000 100. $500,000 100 $800,000 100% $800,000 100 17 Principal 16 Puopalemang 19 Remus 20 21 Straight Line Depreciation Year $800,000 100 $800,000 100 $800,000 100% $800,000 1009 10 Now Hwan is ready to calculate the annual principal and interest payments for the expansion loan. Start by calculating the cumulative interest payments as follows: a. b. In cell B16, enter a formula using the CUMIPMT function to calculate the cumulative interest paid on the loan for Year 1 (payment 1 in cell B14 through payment 12 in cell B15). Use 0 as the type argument in your formula because payments are made at the end of the period. Use absolute references for the rate, nper, and pv arguments, which are listed in the range C4:C10. Use relative references for the start and end arguments. Fill the range C16:K16 with the formula in cell B16 to calculate the interest paid in Years 2-10 and the total interest. c. d