We can use the power of a spreadsheet, such as Excel, to create a loan amortization schedule. A loan amortization schedule is a list of the monthly payments, a breakdown of interest and principal, along with a current loan balance. Create a loan amortization schedule for each of the four loan scenarios discussed on the previous page, using the following as a guide. You may want to use an Internet search engine to research specific keystrokes for creating an amortization schedule in a spreadsheet. We supply a sample spreadsheet with formulas included as a guide. Use the spreadsheet to verify your results from questions 1 through 5. 7. Go to an online automobile website such as www.cars.com, www.edmunds.com, or www.autobytel.com. Research the types of vehicles you can afford for a monthly payment of $500. Decide on a vehicle you would purchase based on your analysis in questions 1-6. Be sure to justify your decision, and include the impact the term of the loan has on your decision. You might consider other factors in your decision, such as expected maintenance costs and insurance costs