For a total of 5 points per question, use excel to compute the answers to the problems below. I would like to be able to check the excel formulas and equations which you have used, 1. James is seeking a housing loan in the amount of $150,000 at an annual interest rate of 2.375% to be repaid over a period of 20 years. (a) Please use excel to calculate his projected monthly payment (PMT) in respect of this loan? (b) Please determine the total amount James will pay by the time he has repaid the loan and interest in full? (c) What is the total amount in interest would he pay on the loan? 2. In the process of planning for his 2-year old daughter's education James estimates that he will need $55,000 in 16 years' time when his daughter is expected to start college. Based on an annual interest rate of 4.29% a. What is the present value of $55,000? 6. What is the total interest James will earn on his initial investment at the end of 16 years? 3. Your Grand Dad invested $19,585,50 in your name at an annual interest rate of 4.29% on the condition that you can only access the funds after 17 years. What would the value of this investment at the end of the period? How much interest would that investment accumulate after 17 years? 4. Find the present value (Ply of an annuity with a payment of $65 per period, 5 periods, and annual interest rate of 7.5%. 5. John has invested $1,514.50 at an annual interest rate of 8% for 4 years at an institution which pays interest on a quarterly basis. How much will John receive at the end of the period? How much of this final amount will be interest? 6. Find the: a. future value (FV) of an annuity with a payment of $30 per period, 6 periods, and an annual interest rate of 10.5 percent. b. future value (FV) of an annuity with a payment of $55 per period, 12 periods, and an annual interest rate of 7.5 percent