You bomow money on a sellquidating instalomnt loan (equal payments at the end of each year, each payment is part principal part interest) Loan $963,000 Interest Rate 15.00% Life (years) Date of loan January 1, 2020 58 Use the installment method - not straight line Do NOT round any intermediate numbers. 1 Do NOT turn this into a monthly problem. 13 a) What is the annual payment? 14 b) What are the total interest payments? 15 c) After 26 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? 16 d) After 26 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)? 17 18 Redo the problem if the interest rate is 3.00% 20 (for a well designed spreadsheet this should take 30 seconds) 22 e) What is the annual payment? 23 What are the total interest payments? 24 g)Alter 26 payments have been made, what percentage of the total interest has been paid fround to the nearest percentage point)? 25 h) Alter 26 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)