provide a formula for cell B9 and B16

Chrome C 45959749.pdf File Edit View History Bookmarks People Tab Window Help 3 Course Hero Course Hero Course Hero Homework Help - Q&A fro x Unit: ACST2001 Financial | O File /Users/thomas/Downloads/45959749.pdf JUN 11 5/12 A B C D E F G 1 First Idea 2 Loan Data Input Output 3 4 Commencement Date Borrowed Amount 5 Loan term (years) 6 Interest Rate (j_1) 28/5/10 600000 30 2.5288% 7 No. Periods per Year 12 8 Interest Rate (j_12) 2.50% 9 Repayment 10 11 Date Today 12 Number of Periods Remaining 2,370.71 per month 28/5/20 240 month 13 O/S Loan Value before early repay AUD 447,387.86 14 Early Repayment AUD 20,000.00 15 O/S Loan value after early repayme AUD 427,387.86 16 Reduced monthly repayment AUD 2,264.73 AUD 17 Figure 1: Excerpt of spreadsheet for parts a, b, c and d of question 3. QUESTION 4 [15 marks] Sachin took out a 30-year home loan on 28 May 2010. He borrowed $600,000 at a rate j = 2.5288%. Repayments were made monthly in arrears. a. [2 marks] From Sachin's perspective, draw a carefully labelled cash flow diagram that describes the above information. Ten years later, Sachin has financial difficulties in maintaining the repay- ments due to the corona crisis. Fortunately, he is able to withdraw funds from his superannuation account to reduce his financial stress. Sachin knows you have just completed the unit ACST2001 and asks you to help with the spreadsheet modelling. He has two ideas. First idea: use the proceeds from his superannuation account to repay part of his debt and reduce his monthly repayment amount. Refer to figure 1 in answering parts b, c and d below. b. [1 mark] Provide an Excel formula to calculate the value of cell B8. c. [2 marks] Provide Excel formulto calculate the value of cells B9 and B16. A 5 www 555-736 EGGS W X P 100% Thu 4:57 pm 45959749.pdf NP | T # +