A B C D E F G H K L 1 Click on the "Loans PMT" tab and enter your name in Cell C1. If Cell C1 is left blank, you will not be able to see your score. N Each yellow cell requires a formula. The formula must only contain cell addresses. Each correct formula will begin with =, +, or -. The basic mathematical operators are +, -, * and / Addition: To add the values in cells A1 and B4, the formula is =A1+B4 Subtraction: To subtract the value in cell B4 from the value in cell A1, the formula is =A1-B4 9 Multiplication: To multiply the values in cells Al and B4, the formula is =A1*B4 10 Division: To divide the value in cell Al by the value in cell B4, the formula is =A1/B4 11 12 Using the PMT function: 13 The PMT function has the following syntax: =-PMT(Rate, Nper, Pv, Fv, Type) 14 Note: To return the payment as a positive value, you must include a negative sign, either before the PMT or as a negative PV amount. 15 16 17 18 19 20 21 22 23 24 25 26 27 28On January 1, 2021 the Catherine Huguley Company borrows $70,000 cash by signing a 5-year, 8%, installment note. with semiannual interest payments. 1) Calculate the amount of each payment using the PMT function. 2) Prepare the amortization schedule for the loan. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. Loan amount Term (years) Annual interest % Payments per year I II 1) What is the amount of each semiannual loan payment?. The PMT function must be used, and formula must return a positive value. 2) Complete the amortization schedule for this note. All formulas must return a positive value. A B C D E F G H Name: Catherine Huguley Your score: 0% 2 Catherine Huguley wants to buy a home, and is considering several financing options. Catherine plans to borrow $190,000 with monthly payments. 1) Calculate the amount of each mortgage payment using the PMT function. 2) W Calculate the total amount of mortgage payments and 3) the total amount of interest paid over the term of the 4 mortgage under the following financing options. Enter a valid Excel formula or function in each of the yellow cells 5 below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. 6 8 Mortgage amount $190,000 9 Payments per year 12 10 Financing Option Term (years) Annual interest 1) Monthly 2) Total 3) Total interest rate payment payments over paid over term 11 term 12 25 8.0% 13 2 20 7.0% 14 3 30 7.5% 15 A 25 9.0%