You have decided to apply for a bank loan to equip the laboratory of your company, for which it requires $ 2,000,000.00, currently the company has profits with retentions for $ 500,000, which it will use to give the down payment of the equipment. The remainder will be financed with a 10-year loan with a 12% annual rate compounded monthly. The bank requests to make constant monthly payments (the same payment at the end of each month, during the 120 months of the credit life). By using Excel. Calculate the monthly payment, develop the amortization table and answer. What amount will you pay exclusively for interest (debt service) in the 3rd month of credit? (Write down your answer without a dollar sign and in absolute value, use two decimal places in your answer).

I'll upvote if you do it on Excel, done by hand will be downvote.So please do it in Excel. Thank you :)