Answer the following questions in Excel You borrow $20,000 at an interest rate of 6 , with the intent of paying the loan off in equal annual payments over 10 years Prepare an amortization schedule for the loan How much interest will you pay over the life of the loan You just received a quote for a car loan at 1 9 APR for 36 months If the car costs $30,000, what are the payments What is the effective annual rate Given the loan in question 2, If you decide to sell the car after 2 years, what is your payoff amount First National Bank charges 14 2 compounded monthly on its business loans First United Bank charges 14 5 compounded semi annually As a potential borrower, which bank would you use for a new loan Your firm has arranged for a $750,000 mortgage to finance the purchase of a large tract of land The mortgage has an APR of 8 1 , and calls for monthly payments equivalent to those on a 30 year mortgage However, the loan has a 7 year balloon payment How big will the balloon payment be You are serving on a jury A plaintiff is suing the city for injuries sustained after a freak street sweeper accident In the trial, doctors testified that it will be 5 years before the plaintiff is able to return to work The jury has already decided in favor of the plaintiff You are the foreperson of the jury and propose that the jury give the plaintiff an award to cover the following The present value of 2 years back pay (assumed to be $47,000 and $50,000) 2 The present value of 5 years future salary at $55,000 per year 3 $100,000 for pain and suffering 4 $20,000 for court costs Assume the salary payments are equal amounts paid at the end of each year If the agreed upon discount rate of 8 is chosen, what is the size of the settlement If you were the plaintiff, would you like to see a higher or lower interest rate Please post excel equations

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Answer the following questions in Excel.

You borrow $20,000 at an interest rate of 6%, with the intent of paying the loan off in equal annual payments over 10 years. Prepare an amortization schedule for the loan. How much interest will you pay over the life of the loan?

You just received a quote for a car loan at 1.9% APR for 36 months. If the car costs $30,000, what are the payments? What is the effective annual rate?

Given the loan in question 2, If you decide to sell the car after 2 years, what is your payoff amount?

First National Bank charges 14.2% compounded monthly on its business loans. First United Bank charges 14.5% compounded semi-annually. As a potential borrower, which bank would you use for a new loan?

Your firm has arranged for a $750,000 mortgage to finance the purchase of a large tract of land. The mortgage has an APR of 8.1%, and calls for monthly payments equivalent to those on a 30 year mortgage. However, the loan has a 7 year balloon payment. How big will the balloon payment be?

You are serving on a jury. A plaintiff is suing the city for injuries sustained after a freak street sweeper accident. In the trial, doctors testified that it will be 5 years before the plaintiff is able to return to work. The jury has already decided in favor of the plaintiff. You are the foreperson of the jury and propose that the jury give the plaintiff an award to cover the following: The present value of 2 years back pay (assumed to be $47,000 and $50,000). 2. The present value of 5 years future salary at $55,000 per year. 3. $100,000 for pain and suffering. 4. $20,000 for court costs. Assume the salary payments are equal amounts paid at the end of each year. If the agreed upon discount rate of 8% is chosen, what is the size of the settlement? If you were the plaintiff, would you like to see a higher or lower interest rate?

Please post excel equations.