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PLEASE SHOW CALCULATIONS AND WORK IN EXCEL 2) You owe $63,000 at 4.8%. You decided to pay off the loan over 10 years of monthly

PLEASE SHOW CALCULATIONS AND WORK IN EXCEL

2) You owe $63,000 at 4.8%. You decided to pay off the loan over 10 years of monthly payments. (Make sure you highlight your answers and mark them clearly)

a. What is the size of your monthly payments?

b. What is the interest portion of your 70th payment?

c. What is the principle portion of your 50th payment?

d. What will your outstanding balance be after 7 years?

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