el explanation for this problem olve all of the following problems with Excel. Please use formulas in excel to solve. (10 pts) Problem 1 (10 pts) (a) Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month. 1. What initial principal will this repay? (b) Assume annual car payments of $6000 for 4 years and an interest rate of 9% per year 1. What initial principal will this repay? tc) Assume monthly car payments of $500 per month for 4 years and an interest rate of per year 1. What initial principal will this repay? 2. Prepare a loan payment schedule showing the payments and interest to the life of the raschbed image text (10 pts) 1. A 10-year mortgage for $95,000 is issued at a 6% annual interest rate. (a) What is the monthly payment? (b) How long does it take to pay off the mortgage, if $1500 per month is paid? (c) What is the monthly payment, if the interest rate is 0.5% per month? FRVUTI (10 pts) I A 10 year bond with a face value of $250,000, stated interest rate of 4% to yield 5%. Interest payments are paid semiannually with a Issuance price of $230,513.55. 1 Prepare a bond amortization schedule using the straight line method 2 Prepare a bond amortization schedule using the effective interest method