Creating Amortization Tables For this assignment you are required to create two loan amortization schedules. See the worksheets "CarLoan" and "Mortgage" for details Step 0: Enter your First & Last name, Then click Save File FIRST NAME LAST NAME Save File Notes: 1) Round your answers to the nearest cent. 2) You may have a small amount of payment left over in the amortization table due to rounding errors. This is normal. 3) Once you finish working on a particular sheet, click the "Grade" Button Note: Once you click grade, you will be shown the correct answers and given feedback. However, the sheet will be locked from further editing. Grading Scheme: (10 points Total) Car Loan (4 points) 1.25 points each for correct Answers (2.5 total) 1.5 points for correct Amortization Table Mortgage (6 points) 1.25 points each for correct Answers (2.5 total) 1.5 points for correct Amortization Table 2 points for correct payoff month with extra payment. A B C D E F G H 1 Mortgage Amortization 2 Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about the loan are shown below): 3 4 1. What is your monthly payment? 5 2. What is the total $ amount of payments made over the life of the loan 6 3. How many months will it take to pay off the loan if you pay an extra $123.89 per month? 7 Enter Answers Here. Correct Answers Note: Enter the month when the whole principal is paid off. Also, remember to show the amortization table for the original payment before you submit. Interest Paid Principle Paid Ending Balance 8 9 Loan Input Data 10 Principal Amount 11 Annual Interest Rate 12 Periods Per Year 13 Total Number of Payments 14 Percentage Rate Per Period 15 Extra Payment per month 16 17 Grade Mortgage 18 19 Mortgage Score 20 Total Score 21 22 23 24 25 26 FEEDBACK: Amount Payment No. Beginning Balance Payment Amount 1 2 3 4 5 6 7 8 9 10 11 0.00 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 a Mortgage + 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 0.Case Instructions Carloan J K B C D E H Car Loan Amortization Complete the loan amortization schedule for a car loan that will be repaid over 60 months and answer the following questions (The details about the loan are shown below): 1. What is your me Formula Bar Correct Answers 2. What is the total $ amount of payments made over the life of the loan Enter Answers Here. Payment Beginning No. Balance Payment Amount Interest Paid Principle Paid Ending Balance Loan Input Data Amount 1 Principal Amount Annual Interest Rate 1 Periods Per Year 2 Total Number of Payments 3 Percentage Rate Per Period 4 2 3 4 5 6 7 5 6 Grade Car Loan 7 B 9 Car Loan Score 0 Total Score 1 8 9 10 11 12 0.00 13 14 15 3 4 5 FEEDBACK: 6 7 B 16 17 18 19 20 21 9 22 D 23 1 24 2 25 3. 26 4 27 5 28 6 29 7 30 B 31 9 32 D 33 1 34 2 35 3. 36 4 37 5 38 6 39 7 40 0.Case Instructions CarLoan Mortgage + K