B D E 14 A c WACC 42.50% 10.95% 15 16 17 18 19 Question 4 and 5 Student Loan (L) $49, 145 Prime rate (Prime) 0.75% Interest (0) 1.25% Number of years (n) 10.00 Monthly Payment 20 21 22 23 24 25 26 27 28 29 BO 31 4) Create an Excel formula to calculate student loan monthly payments. marks) i + Prime 12) 12 12 Monthly Payment = i + Prime (1+ 12 5)(n+12) 1 * L*(1 + i + Prime (n. = 5) If the Monthly Payment decreased to $350 per month, how long (number of years) does it take to pay out the student loan? Use the Solver function on Q4 to determine the new number of years (n). (1.5 marks) B D E 14 A c WACC 42.50% 10.95% 15 16 17 18 19 Question 4 and 5 Student Loan (L) $49, 145 Prime rate (Prime) 0.75% Interest (0) 1.25% Number of years (n) 10.00 Monthly Payment 20 21 22 23 24 25 26 27 28 29 BO 31 4) Create an Excel formula to calculate student loan monthly payments. marks) i + Prime 12) 12 12 Monthly Payment = i + Prime (1+ 12 5)(n+12) 1 * L*(1 + i + Prime (n. = 5) If the Monthly Payment decreased to $350 per month, how long (number of years) does it take to pay out the student loan? Use the Solver function on Q4 to determine the new number of years (n). (1.5 marks)