You're helping Prof. Andrews assess the impact of his boat loan on his finances. To buy this boat, Prof. Andrews will get a large Loan ($150,000) and pay $1,770 monthly during 10 years.

Using Excel, calculate the following:

• The monthly rate for this loan;
• The annual rate for this loan;
• The effective annual rate for this loan;
• Total amount paid after 10 Years;
• The future value for this loan.