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show all steps and work on EXCEL Exercise 3.13. Suppose you take out a loan of $10,500 at an APR of 3.5% that is to

show all steps and work on EXCEL
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Exercise 3.13. Suppose you take out a loan of $10,500 at an APR of 3.5% that is to be repaid in a year. 1. Before making any calculations, how much of the loan do you expect to be paid off after 3 months? What about 6 months? 2. Create an amortization table for the life of the loan. What fraction of the loan was paid off after 3 months and 6 months? 3. Did this meet your expectations? Why do you think that is

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