(2+3=5) 4. You have decided to buy an expensive phone and have taken a loan of $1200, which you will be paying back in 12 monthly installments, at an annual interest rate of 48%. What will be your monthly uniform payment? ii) Use MS Excel to develop payment schedule for a using the following format: PeriodPayment annual) Principal Balance Due S1200.00 Interest (48% 0 8.00 The $values should be formatted to present the answer in two decimal places