Computer questions Use a spreadsheet language (such as Excel) to answer the following questions. Print out your results/take a screen shot/take a photo and hand them in/scan them with the rest of your assignment. Don't forget that your name and student number must be put in the header for each page of output. Best practices: try to fit your answers to question 7 on ONE page if you can. Same with question 8. 7. A loan of $100,000 is to be paid back over 4-years with monthly payments at j12 = 9%. Set up a repayment schedule for the entire 4-year period using the (a) amortization method (b) sum of digits method To emphasize the penalty of paying off your loan early under the sum of digits method, graph the difference between the outstanding balance columns of the sum of digits method and the amortization method (do not graph the outstanding balances, just the difference - use either a line or column graph). (3+3+2 = 8 marks) 8. A loan of $50,000 is to be paid back with semi-annual payments over 12 years at i(2) = 9%. The first payment is R and each succeeding payment increases by 8%. Set up an amortization table. Graph the resulting outstanding balances (using a column graph). Make sure your x-axis goes from 0 to 24. (6 marks) Computer questions Use a spreadsheet language (such as Excel) to answer the following questions. Print out your results/take a screen shot/take a photo and hand them in/scan them with the rest of your assignment. Don't forget that your name and student number must be put in the header for each page of output. Best practices: try to fit your answers to question 7 on ONE page if you can. Same with question 8. 7. A loan of $100,000 is to be paid back over 4-years with monthly payments at j12 = 9%. Set up a repayment schedule for the entire 4-year period using the (a) amortization method (b) sum of digits method To emphasize the penalty of paying off your loan early under the sum of digits method, graph the difference between the outstanding balance columns of the sum of digits method and the amortization method (do not graph the outstanding balances, just the difference - use either a line or column graph). (3+3+2 = 8 marks) 8. A loan of $50,000 is to be paid back with semi-annual payments over 12 years at i(2) = 9%. The first payment is R and each succeeding payment increases by 8%. Set up an amortization table. Graph the resulting outstanding balances (using a column graph). Make sure your x-axis goes from 0 to 24. (6 marks)