College students graduating from US universities often have accumulated $25,000 in loans. In recent years, the annual interest rate on those loans has been about 5% compounded quarterly. A common repayment plan is to pay the money back over 10 years. (a) Calculate the quarterly payment. (b) Create an amortization table with Payment in the 1st column, Principal Before Payment in the 2nd column, Interest Payment in the 3rd column, Paid On Principal in the 4th column, and Principal After Payment in the 5th column. Use the amortization table to determine the total amount paid on the loan and the amount paid on interest.

HINT** Excel format is needed and all formulas must be shown to get credit for work**