4. Create an amortization schedule for a 4-year car loan of $25,000 with a fixed rate of 4.8% that compounds monthly. Whats the monthly payment? How much does the customer pay over the life of the loan?

5. Continuing with the same info as in #4, suppose that after the first 6 months, the vehicle owner experiences a financial windfall and decides to apply $3000 towards his/her principal. Copy your amortization schedule from #4 into a new sheet and adjust your amortization schedule to reflect this extra payment towards the principal. Looking at the amortization schedule, how many full months earlier will the owner be able to pay off his/her loan if he/she continues to make the original payment each month with only the one-time extra payment towards principal?

6. Ok scratch the windfall. Suppose the vehicle owner simply pays an extra $100 each month, starting at the beginning of the loan. You do not need to re-do the amortization schedule, but how many full months does the increased payment shave off the loan?

7. Suppose you are attempting to save $5,000 for a trip to Australia, over a span of 20 months. You open a special account with a 1.2% rate that compounds every month. (Each part needs its OWN table!)

8. If you put $300 into the account each month, will you reach your goal? If so, by how much will you overshoot $5,000? If not, by how much will you be short?

9. What is the minimum amount you need to deposit in your account each month in order to reach $5,000 in 20 months?

10. Suppose that Aunt Josie gives you $400 to start saving for the trip. By how much would that reduce your minimum monthly deposit? Please answer as much as you can and please use Excel! Below is the table from question 4. If able, please answer questions 5 and 6 if possible, it would be greatly appreciated

Month	Beginning Balance	Interest	Monthly Payment	Principal	Ending Balance
1	25000	100	573.47	473.47	24426.53
2	24426.53	134.25	573.47	439.12	23853.06
3	23853.06	131.19	573.47	442.28	23279.59
4	23279.59	128.04	573.47	445.43	22706.12
5	22706.12	124.88	573.47	448.59	22132.65
6	22132.65	121.73	573.47	451.74	21559.18
7	21559.18	118.58	573.47	454.89	20985.71
8	20985.71	115.42	573.47	458.05	20412.24
9	20412.24	112.27	573.47	461.2	19838.77
10	19838.77	109.11	573.47	464.36	19265.3
11	19265.3	105.96	573.47	467.51	18691.83
12	18691.83	102.81	573.47	470.66	18118.36
13	18118.36	99.65	573.47	473.82	17544.89
14	17544.89	96.5	573.47	476.97	16971.42
15	16971.42	93.34	573.47	480.13	16397.95
16	16397.95	90.19	573.47	483.28	15824.48
17	15824.48	87.03	573.47	486.44	15251.01
18	15251.01	83.88	573.47	489.59	14667.54
19	14667.54	80.73	573.47	492.74	14104.07
20	14104.07	77.57	573.47	495.9	13530.6
21	13530.6	74.42	573.47	499.05	12957.13
22	12957.13	71.26	573.47	502.21	12383.66
23	12383.66	68.11	573.47	505.36	11810.19
24	11810.19	64.96	573.47	508.51	11236.72
25	11236.72	61.8	573.47	511.67	10663.25
26	10663.25	58.65	573.47	514.82	10089.78
27	10089.78	55.49	573.47	517.98	9516.31
28	9516.31	52.34	573.47	521.13	8942.84
29	8942.84	49.19	573.47	524.28	8369.37
30	8369.37	46.03	573.47	527.44	7795.9
31	7795.9	42.88	573.47	530.59	7222.43
32	7222.43	39.72	573.47	533.75	6648.96
33	6648.96	36.57	573.47	536.9	6075.49
34	6075.49	33.42	573.47	540.05	5502.02
35	5502.02	30.26	573.47	543.21	4928.55
36	4928.55	27.11	573.47	546.36	4355.08
37	4355.08	23.95	573.47	549.52	3781.61
38	3781.61	20.8	573.47	552.67	3208.14
39	3208.14	17.64	573.47	555.83	2634.67
40	2634.67	14.49	573.47	558.98	2061.2
41	2061.2	11.34	573.47	562.13	1487.73
42	1487.73	8.18	573.47	565.29	914.26
43	914.26	5.03	573.47	568.44	340.79
44	340.79	1.87	573.47	571.6	-232.68
45	-232.68	-1.28	573.47	574.75	-806.15
46	-806.15	-4.43	573.47	577.9	-1379.62
47	-1379.62	-7.59	573.47	581.06	-1953.09
48	-1953.09	-10.74	573.47	584.21	-2526.56