Q4. 15 pts total You want to purchase a new combine worth $345,000. You have enough to make a 20% down payment, but plan to finance the rest over a 7 year loan period. Assume your loan has a 4.5% interest rate. Investment Cost: Down Payment: Loan Amount: (Hint: You calculate the Loan Amount by: Investment Cost - Down Payment) a. Create a loan repayment schedule assuming equal principal payments. 5 pts Remaining Principal Year Principal Interest Total Payment Total Paid b. Create a loan repayment schedule assuming equal total payments. 5 pts Remaining Principal Year Total Payment Interest Principal Total Paid c. _Create a loan repayment schedule assuming with a 35% balloon payment and equal total payments. 5 pts Balloon Payment: Equal Total Payment: Remaining Principal Year Total Payment Interest Principal Balloon Payment Total Paid Q5. Fill out the following table by showing the accumulated interest for each loan repayment plan. 3 pts Accumulated Interest by Loan Agreement 35% Balloon Payment with Equal Principal Payment Equal Total Payment Equal Total Payment Year 1 2 3 4 5 6 7 Q6. What happens to annual interest for each loan type as time progresses? You might need to refer to your notes with annual interest payments to make this comparison. 2 pts Q7. What is the most expensive loan? What is the cheapest loan? 2 pts Q4. 15 pts total You want to purchase a new combine worth $345,000. You have enough to make a 20% down payment, but plan to finance the rest over a 7 year loan period. Assume your loan has a 4.5% interest rate. Investment Cost: Down Payment: Loan Amount: (Hint: You calculate the Loan Amount by: Investment Cost - Down Payment) a. Create a loan repayment schedule assuming equal principal payments. 5 pts Remaining Principal Year Principal Interest Total Payment Total Paid b. Create a loan repayment schedule assuming equal total payments. 5 pts Remaining Principal Year Total Payment Interest Principal Total Paid c. _Create a loan repayment schedule assuming with a 35% balloon payment and equal total payments. 5 pts Balloon Payment: Equal Total Payment: Remaining Principal Year Total Payment Interest Principal Balloon Payment Total Paid Q5. Fill out the following table by showing the accumulated interest for each loan repayment plan. 3 pts Accumulated Interest by Loan Agreement 35% Balloon Payment with Equal Principal Payment Equal Total Payment Equal Total Payment Year 1 2 3 4 5 6 7 Q6. What happens to annual interest for each loan type as time progresses? You might need to refer to your notes with annual interest payments to make this comparison. 2 pts Q7. What is the most expensive loan? What is the cheapest loan? 2 pts