BUID PROJECTS AN AMORTIZATION SCHEDULE Utilizing the features of Microsoft Excel, prepare an amortization schedule for a 36 month loan for $6,000 with a 10% interest rate. Use the following headings: PAYMENT NUMBER PAYMENT AMOUNT FACE VALUE INTEREST PRINCIPLE The interest each month is computed on the face value of the previous month. The principle is the balance of the monthly payment after interest. Face value decreases each month by the amount of principle paid. Before you can prepare the amortization schedule, you must determine the amount of the monthly payment. Use the following formula to compute the monthly payment: MONTHLY INT RATE LOAN X monthly payment x (1 + MONTHLY INT RATE INT.RATE) 36 (1 + monThey WT. RATE) OR - INT. RATE 12 .) 36 LOAN X monthly payment INT. RATE 12 INT. RATE 12 36