Assignments 3A and 3B You are looking to do some improvements on your home and anticipate taking a loan to pay for them. The proposed cost of the improvements is $10,500.00. After speaking with the bank, you can obtain a 5 year loan at 5% annual interest. Using the interest rate charts is acceptable, if applicable. 3A Prepare an amortization chart, similar to the one discussed in class, for the loan if it is paid back on a yearly basis. Show all calculations for the yearly loan payment, interest paid and principal paid. Show the sums for all interest, principal and yearly payments made. 3B Prepare an amortization chart for the loan if taken for 3 years and it is paid back on a monthly basis. Show all calculations for the monthly loan payment, interest paid and principal paid. Show the sums for all interest, principal and monthly payments made. You must show the calculations for the monthly loan payment, and the first 5 months and last 5 months of the amortization chart. You can use Excel to calculate the values between the first five and last five values of hand calculations. The amortization chart must depict all values for all monthly payments. Adding a column for cumulative monthly principal payments is helpful.