Create an Excel Sheet showing the formulas to calculate the following:

1. An $8,000 loan at a 2.3% interest rate is borrowed for 4 years. Find:

a- the monthly payment

b- how many years it would take to pay off the loan if you wanted a monthly payment of $200.00

c- the largest amount you could borrow if you wanted a monthly payment of $100.00

2. A house is purchased for $65,000 at an interest rate of 1.25% and the mortgage is for 30 years. Find:

a- the monthly payment

b- the interest paid on the 10th payment

c- how much is paid toward the interest on the 200th payment

d- at which payment you begin paying more to the principle than interest

e- how much interest is paid on the 360th payment

f- monthly payment if the mortage was changed to 15 years