Question 3 [10 points] On November 1, 2014 Stake Technology Inc borrowed 5936.000 by signing a five year installment note bearing interest Complete the installment note amortization schedule for this note assuming each payment requires equal total payments Use the built-in PV functions for these calculations. Enter Pvn) in a value box to calculate the present value of $1 over compounding periods with a penodictate of/ Smarly use PVA(n) to calculate the present value of an annuity Eg the present value of $1,000 with a periodic tale of 3%, and 2 compounding periods can be entered as 1000PV2:3) To use the built-in PV functions to calculate the payment, the formula is Principal balance - PVA where the number of payments and the interest For example, 510,000 is borrowed by signing a four-year 5% installment note. The not requires four equal payments of accrued interest and principal Each of the four equal payments is calculated by entering the following in the value box 10000 / PVA(45), which equal payments of $2.620 Equal Total Payments Table Penod Ending legning Balance Periodic interest Expenser Rettuction of Nuts Payable of Notes Payment Ending Balance October 31, 2015 October 31, 2010 October 31, 2017 October 31, 2018 October 31 2010 Total Question 3 [10 points] On November 1, 2014 Stake Technology Inc borrowed 5936.000 by signing a five year installment note bearing interest Complete the installment note amortization schedule for this note assuming each payment requires equal total payments Use the built-in PV functions for these calculations. Enter Pvn) in a value box to calculate the present value of $1 over compounding periods with a penodictate of/ Smarly use PVA(n) to calculate the present value of an annuity Eg the present value of $1,000 with a periodic tale of 3%, and 2 compounding periods can be entered as 1000PV2:3) To use the built-in PV functions to calculate the payment, the formula is Principal balance - PVA where the number of payments and the interest For example, 510,000 is borrowed by signing a four-year 5% installment note. The not requires four equal payments of accrued interest and principal Each of the four equal payments is calculated by entering the following in the value box 10000 / PVA(45), which equal payments of $2.620 Equal Total Payments Table Penod Ending legning Balance Periodic interest Expenser Rettuction of Nuts Payable of Notes Payment Ending Balance October 31, 2015 October 31, 2010 October 31, 2017 October 31, 2018 October 31 2010 Total