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The accompanying Loans spreadsheet contains a partially completed spreadsheet model for computing the monthly payment for a loan. Complete the spreadsheet model by entering the

The accompanying Loans spreadsheet contains a partially completed spreadsheet model for computing the monthly payment for a loan. Complete the spreadsheet model by entering the formula for computing monthly payment in cell B6.
a. Create a vertical one-way data table that shows loan amounts in $10,000 increments from $70,000 to $370,000 and their monthly payment amounts, assuming the loan term and annual interest rate are 10 years and 8%, respectively. What is the monthly payment for a loan of $250,000?
Note: Round your answer to 2 decimal places.
Monthly payment amount:
b. Expand the spreadsheet model to include calculations for monthly interest payment and monthly principal payment. Create a vertical one-way data table that shows loan amounts in $10,000 increments from $70,000 to $370,000 and their monthly payment, interest payment, and principal payment amounts, assuming the loan term and annual interest rate are 10 years and 8%, respectively. What is the monthly payment, interest payment, and principal payment amounts for a $300,000 loan?
Note: Round your answers to 2 decimal places.
Monthly payment amount:
Monthly principal amount:
Monthly interest amount:
c. Create a two-way data table that shows loan amounts in $10,000 increments from $70,000 to $370,000 vertically and annual interest rates in 0.5% increments from 3% to 10% horizontally. Fill the table with monthly payment amounts for various loan amount and interest rate combinations. What is the monthly payment amount for a $350,000 loan with a 9% annual interest rate?
Note: Round your answer to 2 decimal places.
Monthly payment amount:
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