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THE CALCULATIONS HAVE TO BE USING EXCEL. You owe $63,000 at 4.8%. You decided to pay off the loan over 10 years of monthly payments.

THE CALCULATIONS HAVE TO BE USING EXCEL.

You owe $63,000 at 4.8%. You decided to pay off the loan over 10 years of monthly payments.

A. What is the size of your monthly payments?

B. What is the interest portion of your 70th payment?

C. What is the principle portion of your 50^th payment?

D. What will your outstanding balance be after 7 years?

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