x] 5- + Amortization with equal payments - Excel FORMULAS DATA REVIEW 6 X Sign In FILE HOME INSERT PAGE LAYOUT VIEW Calibri - 11 I Paste BIU Cells T % Alignment Number Conditional Format as Cell Formatting Table Styles Styles T Editing Clipboard Font A1 X foc AE F G E H Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? 3 4 5 6 7 Loan amounts Interest rate Loan term 67,500 7% 5 009 11 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. 12 Total payment Interest paid Principal paid Ending balance 16 13 Loan payment 14 15 Year Beginning balance 1 2 3 4 5 17 N 18 19 20 21 22 Total interest paid 23 Sheet1 ... + + 80% READY Attempt(s) Hint Show Me XD H 5 Calculating EAR - Excel ? - 6 X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri - 11 I Paste BIU % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font A1 fie A 00 D E F G H 1 2 3 First National Bank charges 12.4 percent compounded monthly on its business loans. First United Bank charges 12.7 percent compounded semiannually. As a potential borrower, which bank would you go to for a new loan? 4 5 Complete the following analysis. Do not hard code values in your calculations. 6 7 8 Times compounded per year Effective rate (EAR) D Stated rate (APR) 12.4% 12.7% First National Bank First United Bank 12 10 2 11 12 13 14 Sheet1 E E + 100% READY Attempt(s) Hint Show Me