attachments_b202888dc439f5814272a186f63112b75d1752a6.xlsx Startup Loan Startup Loan Carson, Kulwinder, Vinh Loan Amortization Annual Interest Rate Years Payments Per Year Amount Payment Number $ 12.50% 2 12 1,500.00 Payment Principal Interest Balance 1 $70.23 $0.00 $ - $ 1,429.77 2 $70.23 $ 55.34 $ 14.89 $ 1,374.43 3 $ 70.23 $ 55.91 $ 14.32 $ 1,318.52 4 $ 70.23 $ 56.49 $ 13.73 $ 1,262.03 5 $ 70.23 $ 57.08 $ 13.15 $ 1,204.94 6 $ 70.23 $ 57.68 $ 12.55 $ 1,147.27 7 $ 70.23 $ 58.28 $ 11.95 $ 1,088.99 8 $ 70.23 $ 58.89 $ 11.34 $ 1,030.10 9 $ 70.23 $ 59.50 $ 10.73 $ 970.60 10 $ 70.23 $ 60.12 $ 10.11 $ 910.48 11 $ 70.23 $ 60.75 $ 9.48 $ 849.74 12 $ 70.23 $ 61.38 $ 8.85 $ 788.36 13 $ 70.23 $ 62.02 $ 8.21 $ 726.34 14 $ 70.23 $ 62.66 $ 7.57 $ 663.68 15 $ 70.23 $ 63.32 $ 6.91 $ 600.36 16 $ 70.23 $ 63.98 $ 6.25 $ 536.39 17 $ 70.23 $ 64.64 $ 5.59 $ 471.75 18 $ 70.23 $ 65.32 $ 4.91 $ 406.43 19 $ 70.23 $ 66.00 $ 4.23 $ 340.43 20 $ 70.23 $ 66.68 $ 3.55 $ 273.75 21 $ 70.23 $ 67.38 $ 2.85 $ 206.37 22 $ 70.23 $ 68.08 $ 2.15 $ 138.29 23 $ 70.23 $ 68.79 $ 1.44 $ 69.51 24 $ 70.23 $ 69.51 $ 0.72 -$ 0.00 25 $ 70.23 Err:502 Err:502 Err:502 26 $ 70.23 Err:502 Err:502 Err:502 27 $ 70.23 Err:502 Err:502 Err:502 28 $ 70.23 Err:502 Err:502 Err:502 29 $ 70.23 Err:502 Err:502 Err:502 30 $ 70.23 Err:502 Err:502 Err:502 31 $ 70.23 Err:502 Err:502 Err:502 32 $ 70.23 Err:502 Err:502 Err:502 33 $ 70.23 Err:502 Err:502 Err:502 34 $ 70.23 Err:502 Err:502 Err:502 35 $ 70.23 Err:502 Err:502 Err:502 36 $ 70.23 Err:502 Err:502 Err:502 37 $ 70.23 Err:502 Err:502 Err:502 38 $ 70.23 Err:502 Err:502 Err:502 39 $ 70.23 Err:502 Err:502 Err:502 40 $ 70.23 Err:502 Err:502 Err:502 41 $ 70.23 Err:502 Err:502 Err:502 42 $ 70.23 Err:502 Err:502 Err:502 43 $ 70.23 Err:502 Err:502 Err:502 44 $ 70.23 Err:502 Err:502 Err:502 45 $ 70.23 Err:502 Err:502 Err:502 46 $ 70.23 Err:502 Err:502 Err:502 47 $ 70.23 Err:502 Err:502 Err:502 48 $ 70.23 Err:502 Err:502 Err:502 49 $ 70.23 Err:502 Err:502 Err:502 50 $ 70.23 Err:502 Err:502 Err:502 51 $ 70.23 Err:502 Err:502 Err:502 52 $ 70.23 Err:502 Err:502 Err:502 53 $ 70.23 Err:502 Err:502 Err:502 54 $ 70.23 Err:502 Err:502 Err:502 55 $ 70.23 Err:502 Err:502 Err:502 56 $ 70.23 Err:502 Err:502 Err:502 57 $ 70.23 Err:502 Err:502 Err:502 58 $ 70.23 Err:502 Err:502 Err:502 59 $ 70.23 Err:502 Err:502 Err:502 60 $ 70.23 Err:502 Err:502 Err:502 61 $ 70.23 Err:502 Err:502 Err:502 62 $ 70.23 Err:502 Err:502 Err:502 63 $ 70.23 Err:502 Err:502 Err:502 64 $ 70.23 Err:502 Err:502 Err:502 65 $ 70.23 Err:502 Err:502 Err:502 66 $ 70.23 Err:502 Err:502 Err:502 67 $ 70.23 Err:502 Err:502 Err:502 68 $ 70.23 Err:502 Err:502 Err:502 69 $ 70.23 Err:502 Err:502 Err:502 70 $ 70.23 Err:502 Err:502 Err:502 71 $ 70.23 Err:502 Err:502 Err:502 72 $ 70.23 Err:502 Err:502 Err:502 73 $ 70.23 Err:502 Err:502 Err:502 74 $ 70.23 Err:502 Err:502 Err:502 75 $ 70.23 Err:502 Err:502 Err:502 76 $ 70.23 Err:502 Err:502 Err:502 77 $ 70.23 Err:502 Err:502 Err:502 78 $ 70.23 Err:502 Err:502 Err:502 79 $ 70.23 Err:502 Err:502 Err:502 80 $ 70.23 Err:502 Err:502 Err:502 81 $ 70.23 Err:502 Err:502 Err:502 82 $ 70.23 Err:502 Err:502 Err:502 83 $ 70.23 Err:502 Err:502 Err:502 84 $ 70.23 Err:502 Err:502 Err:502 Kirchmaier, Janes, Banwait, Zantua Extra Payment Page1 qattachments_b202888dc439f5814272a186f63112b75d1752a6.xlsx Mortgage Mortgage Carson, Kulwinder, Vinh Loan Amortization Annual Interest Rate Years Payments Per Year Amount Payment Number $ 12.50% 2 12 1,500.00 Payment Principal Interest Balance 1 $70.23 $ 70.23 $ - $ 1,429.77 2 $ 70.23 $ 55.34 $ 14.89 $ 1,374.43 3 $ 70.23 $ 55.91 $ 14.32 $ 1,318.52 4 $ 70.23 $ 56.49 $ 13.73 $ 1,262.03 5 $ 70.23 $ 57.08 $ 13.15 $ 1,204.94 6 $ 70.23 $ 57.68 $ 12.55 $ 1,147.27 7 $ 70.23 $ 58.28 $ 11.95 $ 1,088.99 8 $ 70.23 $ 58.89 $ 11.34 $ 1,030.10 9 $ 70.23 $ 59.50 $ 10.73 $ 970.60 10 $ 70.23 $ 60.12 $ 10.11 $ 910.48 11 $ 70.23 $ 60.75 $ 9.48 $ 849.74 12 $ 70.23 $ 61.38 $ 8.85 $ 788.36 13 $ 70.23 $ 62.02 $ 8.21 $ 726.34 14 $ 70.23 $ 62.66 $ 7.57 $ 663.68 15 $ 70.23 $ 63.32 $ 6.91 $ 600.36 16 $ 70.23 $ 63.98 $ 6.25 $ 536.39 17 $ 70.23 $ 64.64 $ 5.59 $ 471.75 18 $ 70.23 $ 65.32 $ 4.91 $ 406.43 19 $ 70.23 $ 66.00 $ 4.23 $ 340.43 20 $ 70.23 $ 66.68 $ 3.55 $ 273.75 21 $ 70.23 $ 67.38 $ 2.85 $ 206.37 22 $ 70.23 $ 68.08 $ 2.15 $ 138.29 23 $ 70.23 $ 68.79 $ 1.44 $ 69.51 24 $ 70.23 $ 69.51 $ 0.72 -$ 0.00 25 $ 70.23 Err:502 Err:502 Err:502 26 $ 70.23 Err:502 Err:502 Err:502 27 $ 70.23 Err:502 Err:502 Err:502 28 $ 70.23 Err:502 Err:502 Err:502 29 $ 70.23 Err:502 Err:502 Err:502 30 $ 70.23 Err:502 Err:502 Err:502 31 $ 70.23 Err:502 Err:502 Err:502 32 $ 70.23 Err:502 Err:502 Err:502 33 $ 70.23 Err:502 Err:502 Err:502 34 $ 70.23 Err:502 Err:502 Err:502 35 $ 70.23 Err:502 Err:502 Err:502 36 $ 70.23 Err:502 Err:502 Err:502 37 $ 70.23 Err:502 Err:502 Err:502 38 $ 70.23 Err:502 Err:502 Err:502 39 $ 70.23 Err:502 Err:502 Err:502 40 $ 70.23 Err:502 Err:502 Err:502 41 $ 70.23 Err:502 Err:502 Err:502 42 $ 70.23 Err:502 Err:502 Err:502 43 $ 70.23 Err:502 Err:502 Err:502 44 $ 70.23 Err:502 Err:502 Err:502 45 $ 70.23 Err:502 Err:502 Err:502 46 $ 70.23 Err:502 Err:502 Err:502 47 $ 70.23 Err:502 Err:502 Err:502 48 $ 70.23 Err:502 Err:502 Err:502 49 $ 70.23 Err:502 Err:502 Err:502 50 $ 70.23 Err:502 Err:502 Err:502 51 $ 70.23 Err:502 Err:502 Err:502 52 $ 70.23 Err:502 Err:502 Err:502 53 $ 70.23 Err:502 Err:502 Err:502 54 $ 70.23 Err:502 Err:502 Err:502 55 $ 70.23 Err:502 Err:502 Err:502 56 $ 70.23 Err:502 Err:502 Err:502 57 $ 70.23 Err:502 Err:502 Err:502 58 $ 70.23 Err:502 Err:502 Err:502 59 $ 70.23 Err:502 Err:502 Err:502 60 $ 70.23 Err:502 Err:502 Err:502 61 $ 70.23 Err:502 Err:502 Err:502 62 $ 70.23 Err:502 Err:502 Err:502 63 $ 70.23 Err:502 Err:502 Err:502 64 $ 70.23 Err:502 Err:502 Err:502 65 $ 70.23 Err:502 Err:502 Err:502 66 $ 70.23 Err:502 Err:502 Err:502 67 $ 70.23 Err:502 Err:502 Err:502 68 $ 70.23 Err:502 Err:502 Err:502 69 $ 70.23 Err:502 Err:502 Err:502 70 $ 70.23 Err:502 Err:502 Err:502 71 $ 70.23 Err:502 Err:502 Err:502 72 $ 70.23 Err:502 Err:502 Err:502 73 $ 70.23 Err:502 Err:502 Err:502 74 $ 70.23 Err:502 Err:502 Err:502 75 $ 70.23 Err:502 Err:502 Err:502 76 $ 70.23 Err:502 Err:502 Err:502 77 $ 70.23 Err:502 Err:502 Err:502 78 $ 70.23 Err:502 Err:502 Err:502 79 $ 70.23 Err:502 Err:502 Err:502 80 $ 70.23 Err:502 Err:502 Err:502 81 $ 70.23 Err:502 Err:502 Err:502 82 $ 70.23 Err:502 Err:502 Err:502 83 $ 70.23 Err:502 Err:502 Err:502 84 $ 70.23 Err:502 Err:502 Err:502 Kirchmaier, Janes, Banwait, Zantua Extra Payment Page2 qattachments_b202888dc439f5814272a186f63112b75d1752a6.xlsx Delivery Truck Loan Delivery Truck Loan Carson, Kulwinder, Vinh Loan Amortization Annual Interest Rate Years Payments Per Year Amount Payment Number $ 12.50% 2 12 1,500.00 Payment 1 $ 70.23 2 $ 70.23 3 $ 70.23 4 $ 70.23 5 $ 70.23 6 $ 70.23 7 $ 70.23 8 $ 70.23 9 $ 70.23 10 $ 70.23 11 $ 70.23 12 $ 70.23 13 $ 70.23 14 $ 70.23 15 $ 70.23 16 $ 70.23 17 $ 70.23 18 $ 70.23 19 $ 70.23 20 $ 70.23 21 $ 70.23 22 $ 70.23 23 $ 70.23 24 $ 70.23 25 $ 70.23 26 $ 70.23 27 $ 70.23 28 $ 70.23 29 $ 70.23 30 $ 70.23 31 $ 70.23 32 $ 70.23 33 $ 70.23 34 $ 70.23 35 $ 70.23 36 $ 70.23 37 $ 70.23 38 $ 70.23 39 $ 70.23 40 $ 70.23 41 $ 70.23 42 $ 70.23 43 $ 70.23 44 $ 70.23 45 $ 70.23 46 $ 70.23 47 $ 70.23 48 $ 70.23 49 $ 70.23 50 $ 70.23 51 $ 70.23 52 $ 70.23 53 $ 70.23 54 $ 70.23 55 $ 70.23 56 $ 70.23 57 $ 70.23 58 $ 70.23 59 $ 70.23 60 $ 70.23 61 $ 70.23 62 $ 70.23 63 $ 70.23 64 $ 70.23 65 $ 70.23 66 $ 70.23 67 $ 70.23 68 $ 70.23 69 $ 70.23 70 $ 70.23 71 $ 70.23 72 $ 70.23 73 $ 70.23 74 $ 70.23 75 $ 70.23 76 $ 70.23 77 $ 70.23 78 $ 70.23 79 $ 70.23 80 $ 70.23 81 $ 70.23 82 $ 70.23 83 $ 70.23 84 $ 70.23 Kirchmaier, Janes, Banwait, Zantua Principal Interest Balance $ 70.23 $ - $ 1,429.77 $ 55.34 $ 14.89 $ 1,374.43 $ 55.91 $ 14.32 $ 1,318.52 $ 56.49 $ 13.73 $ 1,262.03 $ 57.08 $ 13.15 $ 1,204.94 $ 57.68 $ 12.55 $ 1,147.27 $ 58.28 $ 11.95 $ 1,088.99 $ 58.89 $ 11.34 $ 1,030.10 $ 59.50 $ 10.73 $ 970.60 $ 60.12 $ 10.11 $ 910.48 $ 60.75 $ 9.48 $ 849.74 $ 61.38 $ 8.85 $ 788.36 $ 62.02 $ 8.21 $ 726.34 $ 62.66 $ 7.57 $ 663.68 $ 63.32 $ 6.91 $ 600.36 $ 63.98 $ 6.25 $ 536.39 $ 64.64 $ 5.59 $ 471.75 $ 65.32 $ 4.91 $ 406.43 $ 66.00 $ 4.23 $ 340.43 $ 66.68 $ 3.55 $ 273.75 $ 67.38 $ 2.85 $ 206.37 $ 68.08 $ 2.15 $ 138.29 $ 68.79 $ 1.44 $ 69.51 $ 69.51 $ 0.72 -$ 0.00 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Err:502 Extra Payment Page3 Jane, Georgia, and Melody started a cupcake business in their final year in college, registering the company as 'Sugary Bites'. They needed measuring cups, mixers, a food processor, and other baking equipment to prepare for production. This equipment cost a total of $1500, which the entrepreneurs financed through a loan from a bank at 12.5% compounded monthly, amortized over two years. Within a week, they started making cupcakes and delivering them to their college cafeteria. Within two months, Sugary Bites cupcakes was the talk of the college campus and the bakery business was making modest profits. After graduating, the three budding entrepreneurs decided to expand their operation. They rented a retail store in the city and added ten new cupcake flavours to their product line. They also hired an assistant to run the store and a delivery person to handle personal orders. After two years of successfully managing Sugary Bites, they saved $21,600 to use as a down payment to purchase a small shop where they could make their cupcakes, and a delivery truck to deliver them. They identified a $180,000 commercial property and secured a mortgage for 80% of its value to purchase it. The fixed interest rate on the mortgage was 3.4% compounded semi-annually for a term of five years. They also purchased a delivery truck for the business at a cost of $18,500 and financed 80% of it at 7% compounded monthly. They made monthly payments of $300 towards this loan. Answer the following questions related to each of their debts: Startup Loan a. What were their monthly payments to settle this loan? b. What was the principal balance on the loan after one year? c. Construct an amortization schedule for this loan. Mortgage d. Calculate the size of their monthly payments rounded to the nearest $10. e. By how much would their amortization period have shortened if they had made a lump-sum payment of $30,000 at the end of the 3rd year of the mortgage and increased their periodic payment by 30% after the 40th payment? Delivery Truck Loan f. How long would it take to settle this loan with regular monthly payments of $300? g. On their 20th payment, what will be the interest portion and what will be the principal portion? h. Construct a partial amortization schedule showing details of the first two payments, last two payments, total payment made, and the total interest paid towards this loan. Requirement: The Excel calculations should be set up in a systematic manner. Your set-up must contain a list of the given values, and as many calculated values as possible. Make your Excel spreadsheet as 'interactive' as possible by using cell references; so that if one value is changed, subsequent calculations will automatically update. Use absolute cell references in special situations (e.g. using dollar signs $B$4 to refer only to that cell). Use algebraic formulas or Excel functions as required to answer questions. Use ROUND function monetary values calculated to nearest cent