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2. If you borrow $100,000 today & repay it in equal installments at the end of months during the next 5 years, how much is
2. If you borrow $100,000 today & repay it in equal installments at the end of months during the next 5 years, how much is your monthly payment if the interest rate is 9.5%? Please prepare the schedule below. Please find the values in the 'green' cells using appropriate formula' and 'cell reference' $100,000 Year Beg. Balance Loan amount Time to repay Monthly Pmt Interest Pmt Principal Pmt End. Balance 5 years Month 1 2 3 months Interest rate= 9.50% per year per month 4 5 Monthly payment 6 7 8 9 10 11 12
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