Question: Excel File Edit View Insert Format Tools Data Window Help AutoSave OR Q Loan 23 Home Insert Draw Page Layout Formulas Data Review View Tell

Excel File Edit View Insert Format Tools Data Window Help AutoSave OR Q Loan 23 Home Insert Draw Page Layout Formulas Data Review View Tell me Arial 10 29 General ' ' a. Av Paste BI % ) A22 fx e) What is the annual payment? D E F H PROBLEM # 1 23802294 2 You bomow money on a self liquidating instalemnt loan equal payments at the end of each year, each payment is part principal part interest) 3 Loan $489,000 4 Interest Rate 16.00% 5 Life years) 59 6 Date of loan January 1, 2020 7 9 Use the installment methodnot straight line 10 DO NOT round any intermediate numbers. 11 Do NOT turn this into a monthly problem 12 13 a) What is the annual payment? 14 b) What are the total interest payments? 15 c) After 33 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point? 16 d) After 33 payments have been made, what percentage of the total principal has been paid fround to the nearest percentage point)? 17 18 Redo the problem if the interest rate is 19 2.00% 20 for a wel designed spreadsheet this should take 30 seconds) 21 22 ) What is the annual payment? 23 What are the total interest payments? 24 ) After 33 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? 25 h) After 33 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point? 26 27 28 29 30 32 33 34 35 36 37 38 39 Q Loan 23802294

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