First, Create two separate amortization schedules in Excel for car loans having a payoff period of 48 months. The first loan is for $20,000 at an interest rate of 1.9% (nominal per year). The second loan is for $19,000 with an interest rate of 2.9% (nominal per year)

Second,create two more spreadsheets byaddingan extra column on eachwhere you pay $100 additional on your principal every 3 months. How long does it take to pay off each loan after making the extra payments?

If you could post a link to your spreadsheet please do that also show your formulas in excel