can someone help me on how to start this and the equations to use?

Due Wednesday You will be borrowing $16,000 from the First National Bank at a rate of 18% on February 1, 2019 for the purchase of your first car. You have decided that you will be able to make a monthly payments of $406.29 according to your budget. Payments will be made at the end of each month starting March 2014 Make a payment schedule on excel and print out your results. Note the last payment will need to be adjusted for the balance due. Use the following column headings. - Date 1. Cash Payment - Interest Expense - Reduction of Principle - Balance Owed 2. What is the Journal Entry for the initial borrowing on February 1, 2019 3. What are the Journal Entries for the 1't and 2nd payments? 4. What is the total of all cash payments over the life of the debt? 5. What is the total interest expense over the life of the debt? 6. When will the debt be paid off? Refer to page 601jof your textbook