1 2 3 4 Loan of $420,000 i, nominal rate per annum i/m, rate per month n (years) 5 m 6 n*m, number of monthy repayments Loan End of month repayment 4.50% 0.38% 4.3 12 51.40 $420,000 $9,000.00 7 8 Recreate the above table in your own version of excel. At a rate of 4.5%p.a compounding monthly, to repay the loan you see that 51 full repayments of $9,000 are required in addition to a smaller final repayment. If the interest rate is changed to 24.3% p.a. compounding monthly, how many full repayments of $9,000 will be required to repay the loan? (answer by rounding down to whole numbers to reflect full repayments eg 51)