Trent Lane took a student loan of S18,000 at 7.25% interest rate compounded monthly, to be repaid in 1 year. You are required to create an amortization schedule for the above loan. (a)Use the amortization formula to calculate Trent's monthly payment and round the payment up to the nearest hundredth. (b) Create an amortization schedule for the loan. At the beginning of the table, enter the following information: title, name of client, loan amount, length of loan, annual interest rate, interest rate per month and monthly payment. The table should have the column headers: Payment Number, Beginning Balance, Payment, Interest Rate Per Month, Interest Payment, Principal Payment and Ending Balance. (Include this whole table in your report use 6 decimal places for i the interest rate per month.) Use Trent's amortization schedule to answer the following questions: What is the balance of the loan after 1 year of repayments? When you calculated the monthly payment for the loan you were asked to round it up. What is the advantage for doing that? How long does it take him to pay off more than half the loan? How much total interest is paid by Trent after he paid off the loan in 1 year