It's May 2022 and you landed a role in your field making $45,000 Per Year (which equals $3,750 gross per month). However, you realize that you have to pay back your federal and private student loans so you call your loan servicer to get your loan details. You find out you owe $90,000 in student loans and the representative shares the loan details below.

Loan Balance:	$90,000
APR (Annual Percentage Rate) (Fixed)	4.25%
Term	20 Years

Wait, but there is more. Your car recently experienced a major mechanical issue and you determine that is would be best to get another car. Currently, the price of used cars has increased due to supply and demand issues within our current economic environment. You find a reliable car that cost $20,000. The car representative shares the loan details below.

Loan Balance:	$20,000
APR (Annual Percentage Rate) (Fixed)	5.25%
Term	6 Years

Create a loan amortization for both scenarios on different tabs and answer the following questions below.

1. How much did you make in the total principal payments?

2. How much did you make in the total interest payments?

3. How much did you pay back in total?

4. If interest rates increased on your student loans, how will that impact your monthly payments?

5. How much do you have remaining after making your student loan and car payment? (*This will be based upon your gross monthly income and your total monthly payments)