Loan Details Monthly (Beginning-of-month) Payment (PMT) Effective Annual Rate Monthly interest rate (RATE) Months to Pay Off Loan (NPER) 36 Amount of Loan from Bank (PV) $5,000.00 Recreate the above in excel. You seek to borrow $5,000 from a friend. You promise to repay the loan in 36 monthly repayments commencing today. If the effective annual interest (EAR) rate is 24.3% what is the amount of the monthly repayment? (answer do not include $ sign; show cents eg 100.00) Answer: A $17,000 loan is to be repaid with 9 equal half-yearly instalments. Interest is at 8.5%p.a. compounding half-yearly Calculate the principal repaid in the fourth instalment. (use excel; answer to include cents but do not use the comma separator)