DATA
	Loan Amount	$35,000.00
	Interest Rate	6%
	Periods	3

Using the present value of an ordinary annuity table, calculate the payment amount and complete the amortization schedule. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values. Use the effective interest amortization method. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab, you will be marked wrong.) a. Calculate the loan payment by dividing the loan amount by the appropriate present value factor. b. Round values to two decimal places. Calculate the interest expense in the third year as the loan payment minus the loan balance at the beginning of the third year. c. Use absolute cell references and relative cell references in formulas. Use absolute cell references only to cells C 6 and C19 for interest expense and payment calculations