Principal- $15,000APR- 5.35%Term- 5 yearsAmortization Table consist of:Beginning balance, monthly payment, interest payment, principal payment, ending balance and another table with extra principal payment.

Start Excel. Download and open the workbook named: 0 Chapter_9-2_Principal_Pmt_Start 2 In cell B10, enter the balance at the beginning of month 1. Format cell B10 as Currency with 2 decimal places. 3 In cell B11, enter the balance at the beginning of month 2. Fill cell B11 down the column to cell 6 B69. Format cells B11:869 as Currency with 2 decimal places. Note: The values in the range B11:869 will automatically change after completing the next steps. 4 In cell C10, calculate the amount of monthly payment for month 1. Fill cell C10 down the 6 column to cell C69. Format cells C10:069 as Currency with 2 decimal places. Note: The amount of monthly payment is expected as a negative value and it doesn't change during the whole period. 5 In cell D10, calculate the amount of interest payment for month 1. Fill cell D10 down the column to cell D69. Format cells D10:D69 as Currency with 2 decimal places. Note: The amounts of interest payment are expected as positive values. The values in the range D11:D69 will automatically change after completing the next steps. 6 In cell E10, calculate the amount of principal payment for month 1. Fill cell E10 down the 6 column to cell E69. Format cells E10:E69 as Currency with 2 decimal places. Note: The amounts of principal payment are expected as negative values. The values in the range E11:E69 will automatically change after completing the next step. 7 In cell F10, calculate the new balance at the end of month 1. Fill cell F10 down the column to 6 cell F69. Format cells F10:F69 as Currency with 2 decimal places. 8 In cell 110, determine the balance at the end of the first year. Format cell 110 as Currency with 2 decimal places. 9 In cell 113, calculate the sum of the interest payments over the life of this loan. Format cell 113 as Currency with 2 decimal places. 10 In cell L10, enter the balance at the beginning of month 1 if an extra principal payment is made at the end of each month. Format cell L10 as Currency with 2 decimal places. 11 In cell L11, enter the balance at the beginning of month 2 if an extra principal payment is made 6 at the end of each month. Fill cell L11 down the column to cell L69. Format cells L11:L69 as Currency with 2 decimal places. Note: The values in the range L11:169 will automatically change after completing the next steps. 12 In cell M10, calculate the amount of monthly payment for month 1. Fill cell M10 down the 6 column to cell M69. Format cells M10:M69 as Currency with 2 decimal places