Question: In Excel or by hand using a calculator, construct an amortization schedule for the following loan. The loan term is 6 years. The loan rate

In Excel or by hand using a calculator, construct an amortization schedule for the following loan. The loan term is 6 years. The loan rate per year is

7.00%. The up-front loan amount is $96,000. After constructing your amortization schedule, enter the following answers.

The annual loan payment is $ (round answer to nearest cent)

The loan balance is $ at the end of year 2 / beginning of year 3. (round to nearest dollar)

The loan balance is $ at the end of year 4 / beginning of year 5 (round to nearest dollar)

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