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Read the instruction sheet and amortize the loan in Question #1 in Microsoft Excel. 1. Sams Auto Repairs Inc. borrowed $6,261 to be repaid by

Read the instruction sheet and amortize the loan in Question #1 in Microsoft Excel.

1. Sams Auto Repairs Inc. borrowed $6,261 to be repaid by monthly payments over 13 years. Interest on the loan is 3.61% compounded semi-annually. (*Hint: General Annuity)

Compute the equal monthly payment.

Round your answer to 2 decimal places. Do not enter the dollar sign. Sample input: 124.34

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