AutoSave CAT QLoan 23142788 . Read-Only - Excel e Search File Home Insert Page Layout Formular Data Review View Add-ins Help Calibri - 11 - AA General 2 Wrap Test + Merge & Center Paste $ - % Conditional Formatas Cel Formatting Table Styles Styles Clipboard Font Alignment Number K17 A B E 2 You borrow money on a self liquidating installent loan (equal payments at the end of each year, each payment is part principal part interest) 3 Loan $712,000 4 Interest Rate 13.40% 5 Life (years) 56 6 Date of Loan January 1, 2020 7 8 9 Use the installment methodnot straight line 10 DO NOT round any intermediate numbers. 11 DO NOT turn this into a monthly problem. 12 13 a) What is the annual payment? 14 b) What are the total interest payments? 15 After 22 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point? 16 d) After 22 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point? 17 18 Redo the problem if the interest rate is 19 1.00 20 for a well designed spreadsheet this should take 30 seconds) 21 22 ) What is the annual payment? 23 What are the total interest payments? Q Loan 23142788 RE SAMSUNG ULTRA FS 78 F3 FS FB % 8 3 4 2 5 AutoSave Qlom 23142788. Read Only - Excel P Search Home Insert Page Layout Formulas Data Review View Add-ins Help Calibri General Paste BIU- 2 Wrap Test - A- ZEE E Merge & Center 5 Alignment $ - %) ! 21 Conditional Formatas Formatting Table Clipboard Font Number K17 A B D E F G H 12 13 a) What is the annual payment? 14 b) What are the total interest payments? 15 c) After 22 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? 16 d) After 22 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)? 17 18 Redo the problem if the interest rate is 19 1.00% 20 (for a well designed spreadsheet this should take 30 seconds) 21 22 e) What is the annual payment? 23 What are the total interest payments? 24 g) After 22 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? 25 h) After 22 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)? 26 27 28 29 30 31 32 33 Q Loan 23142788 Ready g SAMSUNG F6 F FS FB F2 96 8 . 2 3 6 5