Using the present value of an ordinary annuity table, calculate the payment amount and complete the amortimation schedule. Enter all amounts as positive values. Do not use a minus sign of parentheses for any values. Use the effective interest amortization method. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the instructions tab, you will be marked wrong.) a. Calculate the loan payment by dividing the loan amount by the appropriate present value factor. b. Round values to two decimal places. Calculate theinterest expense in the third year as theloan payment minus the loan balance at the beginning of the third year. c. Useabsolute cell references and relative cell references in formulas Use absolute cell references only to celis CG and C19 for interest expense and payment calculations. Beguifement 1 Using the facel PMT functiof, calculate the payment amount and complete the amortization schedule. Use the effective interect amortiration method, (Hweys use celi references and formulat where appeopeiate to feceive fyll tredit. If you copylpaste from the instructions tab, you will be marked weone.) a. The PMT function calculates a payment amount shat results in a negative nember. Reverse this to a positive number for calculationsin the amortiarion sehedule. b. Hocind values to two decimal places. Calculate the interert eapense in the thied year as the loan payment minus the loan balance at the beginning of the third year. c. UVe absolute cell references and relative cell rederences in formcias. Use absolutecell references only to cells 06 and C39 for interest expense and payment calculations. Payenent (ouing BMT functien) Hints Ceff inirel C19 / Use the function aROUNO( I to calculate the loan payment. F23.F25 | Useabsolute cell federence for total payments in periods 1-3. (Absolutecell reference uyes 5 , enample 5.451 ) D23:E.4 | Usethe furction nhQuvo(l)o calculate the interest expence and parment for the first and thesecond periods D26 | Usethe furttion is WM / to catculate the total principal payment, C39. Uie the function aROUNDY I and the finction o\$MTI/ to calculate the loan payment. The PMT. Aunction cyes theinterest rate, the eumber of periods, and the loan amount (ia that drder] Do not HINTS Cell I Hint: C19 | Use the function =ROUND() to calculate the loan payment. F23:F25 | Use absolute cell reference for total payments in periods 1-3. (Absolute cell reference uses \$, example \$A\$1) D23:E24 | Use the function =ROUND() to calculate the interest expense and payment for the first and the second periods. C39 | Use the function =ROUND() and the function =PMT() to calculate the loan payment. The PMT function uses the interest rate, the number of periods, and the loan amount (in that order). Do not enter any value for the FV or TYPE arguments of the PMT function. F43:F45 | The payment must be a positive value. - Whenever using the ROUND function, use the function =Round (,2) to calculate the loan payment to two decimal places. Using the present value of an ordinary annuity table, calculate the payment amount and complete the amortimation schedule. Enter all amounts as positive values. Do not use a minus sign of parentheses for any values. Use the effective interest amortization method. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the instructions tab, you will be marked wrong.) a. Calculate the loan payment by dividing the loan amount by the appropriate present value factor. b. Round values to two decimal places. Calculate theinterest expense in the third year as theloan payment minus the loan balance at the beginning of the third year. c. Useabsolute cell references and relative cell references in formulas Use absolute cell references only to celis CG and C19 for interest expense and payment calculations. Beguifement 1 Using the facel PMT functiof, calculate the payment amount and complete the amortization schedule. Use the effective interect amortiration method, (Hweys use celi references and formulat where appeopeiate to feceive fyll tredit. If you copylpaste from the instructions tab, you will be marked weone.) a. The PMT function calculates a payment amount shat results in a negative nember. Reverse this to a positive number for calculationsin the amortiarion sehedule. b. Hocind values to two decimal places. Calculate the interert eapense in the thied year as the loan payment minus the loan balance at the beginning of the third year. c. UVe absolute cell references and relative cell rederences in formcias. Use absolutecell references only to cells 06 and C39 for interest expense and payment calculations. Payenent (ouing BMT functien) Hints Ceff inirel C19 / Use the function aROUNO( I to calculate the loan payment. F23.F25 | Useabsolute cell federence for total payments in periods 1-3. (Absolutecell reference uyes 5 , enample 5.451 ) D23:E.4 | Usethe furction nhQuvo(l)o calculate the interest expence and parment for the first and thesecond periods D26 | Usethe furttion is WM / to catculate the total principal payment, C39. Uie the function aROUNDY I and the finction o\$MTI/ to calculate the loan payment. The PMT. Aunction cyes theinterest rate, the eumber of periods, and the loan amount (ia that drder] Do not HINTS Cell I Hint: C19 | Use the function =ROUND() to calculate the loan payment. F23:F25 | Use absolute cell reference for total payments in periods 1-3. (Absolute cell reference uses \$, example \$A\$1) D23:E24 | Use the function =ROUND() to calculate the interest expense and payment for the first and the second periods. C39 | Use the function =ROUND() and the function =PMT() to calculate the loan payment. The PMT function uses the interest rate, the number of periods, and the loan amount (in that order). Do not enter any value for the FV or TYPE arguments of the PMT function. F43:F45 | The payment must be a positive value. - Whenever using the ROUND function, use the function =Round (,2) to calculate the loan payment to two decimal places