#2 The monthly payment

M

of a loan amount

P

for

y

years and with interest rate

r

can be calculated by the formula:\

M=(P((r)/(12)))/(1-(1+(r)/(12))^(-12y))

\ Calculate the monthly payment and the total payment for a

$100,000

loan for

10,11,12,dots,29,30

years with an interest rate of

4.85%

. Display the results in a three-column table where the first column is the number of years, the second is the monthly payment, and the third is the total payment.

The monthly payment M of a loan amount P for y years and with interest rate r can be calculated by the formula: M=1(1+r/12)12yP(r/12) Calculate the monthly payment and the total payment for a $100,000 loan for 10,11,12,,29,30 years with an interest rate of 4.85%. Display the results in a three-column table where the first column is the number of years, the second is the monthly payment, and the third is the total payment