You ask your friend for a loan of $ 50,000. You both agree on an interest rate of 10 %. You promise to pay him/her in installments at the end of every month for next few years. Create this model on EXCEL

-You want to know what will be effect of various interest rates and the years of repayment on monthly payment amount. Use 1 variable input data table

-You want to know what will be effect of various interest rates and the years of repayment on monthly payment. Use 2 variable input data table.

** your model should contain formulas in relevant places.**

Use the below mentioned format: Please show where to put the formulas on EXCEL and steps.

Loan Amount Annual Tax Years Monthly payment Total Payment 50000 10.00% $1,062.35 $63,741.13 One variable data table- Effect of various annual tax rates on Monthy Pmt and Total Pmt Annual tax Monthly Payment Total payment 7.00%) $ 8.00% $ 9.00%, $ 10.00% $ 11.00%) $ 12.00%) $ 990.06 $ 59,403.60 1,013.82 60,829.18 1,037.92 62,275.07 1,062.35 63,741.13 1,087.12 65,227.27 1,112.22 66,733.34 Two variable Data Table Effect of various annual tax rates and years on Monthy Payment 4 3 5 6 7.00%, $ 8.00% $ 9.00%) $ 10.00%) $ 11.00% $ 12.00% $ 1,543.85$ 1,197.31$ 990.06 $852.45 $754.63 1,566.821,220.65 $1,013.82 $876.66 $779.31 1,589.99 1,244.25 $1,037.92 $901.28 $804.45 1,613.36 1,268.13 $1,062.35 $926.29 $830.06 1,636.94 1,292.28 $856.12 1,660.721,316.69 $1,112.22 $977.51 $882.64 $1,087.12 $951.70