A 1 B Name: D E F G H Your score: 0% 2 On January 1, 202 3 4 5 ? Company borrows $170,000 cash by signing a 2-year, 6%, installment note, with quarterly interest payments. 1) Calculate the amount of each payment using the PMT function. 2) Prepare the amortization schedule for the loan. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. 6 7 8 Loan amount 9 10 11 12 13 14 15 16 Term (years) Annual interest % Payments per year 1) What is the amount of each quarterly loan payment?. The PMT function must be used, and formula must return a positive value. 2) Complete the amortization schedule for this note. All formulas must return a positive value. $170,000 2 6% 4 17 18 Quarterly Interest Beginning Balance Debit Interest 19 Period Expense Debit Notes Payable Credit Cash Endin Balance 20 21 22 23 24 25 26 27 28 29 30 B C D E A Name: 12 3456789 10 G H Your score: 0% plans to borrow wants to buy a home, and is considering several financing options. $290,000 with monthly payments. 1) Calculate the amount of each mortgage payment using the PMT function. 2) Calculate the total amount of mortgage payments and 3) the total amount of interest paid over the term of the mortgage under the following financing options. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. Mortgage amount Payments per year $290,000 12 Financing Option Term (years) Annual interest rate 1) Monthly payment 11 2) Total payments over term 12 1 15 8.0% 13 2 15 7.0% 14 3 20 7.5% 15 4 30 9.0% 3) Total interest paid over term 34567829 A B 22 1 Name: Your score: Average all tabs: H 0% wants to buy wants to buy a car and is considering several financing options. The car costs $27,000. 1) Calculate the amount of each monthly car payment using the PMT function. 2) Calculate the total amount of the car payments and 3) the total amount of interest paid over the term of the loan under the following financing options.Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. E F Amount financed Payments per year $27,000 12 10 Financing Option Term (years) Annual interest rate 1) Monthly payment 11 12345 2) Total payments over term 3) Total interest paid over term 1 3 8.0% 2 4 7.0% 3 5 7.5% 4 6 9.0%