INSTALLMENT-LOAN-LAB Choose exercise (1-5) Content of cell G50: $0.00 OK Nelly Company borrowed $5,000 a 3-year, 4.00% installment loan, with MONTHLY payments. Note that we need to modify the interest rate for MONTHLY payments= RATE/12. 1. Enter 0: enter 1 below it; 5. =D15+E15 then drag box in lover right corne 4. =rate!12 G14 2. Loan balance goes here. 6. G14 +F5 1 INTEREST PRINCIPAL PHT EXPENSE IEDUCTION LOAN BAL PERIOD 0 1 Enter formula: 2 PMT(rate/12,36,loan 3 4 5 7. After instructions 3, 4, 5, and 6, SELECT CELLS D15, E15, F15, G15_ and drag this corner down to G50_ hope the loan balance ends at $0.00! 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36