... Liam has three other options for purchasing the Charles Street property. In the first scenario, he could borrow additional money to fund a renovation of the building. He wants to determine the monthly payment for the first scenario. In cell G10, insert a formula using the PMT function using the monthly interest rate (cell G6), the loan period in months (cell G8), and the loan amount (cell G4) to calculate the monthly payment for the renovation scenario. 1. In the second scenario, Liam could pay back the loan in 20 years instead of 15 and reduce his monthly payments to $6,000 with an annual interest rate of 4.5%. He wants to know the loan amount he should request with those conditions. In cell H4, insert a formula using the PV function and the monthly interest rate (cell H6), the loan period in months (cell H8), and the monthly payment (cell H10) to calculate the loan amount for the 20-year scenario. 12. In the third scenario, Liam could pay back the loan for eight years with a monthly payment of $8,000 and then renegotiate better terms. He wants to know the amount remaining on the loan after eight years or the future value of the loan. In cell 111, insert a formula using the FV function and the rate (cell 16), the number of periods (cell 18), the monthly payment (cell 110), and the loan amount (cell 14) to calculate the future value of the loan for the eight-year scenario. 13. Liam plans to print parts of the Loan Calculator workbook. Prepare for printing as follows: Set row 3 as the print titles for the worksheet. Set the range F3:111 as the print area. nal Figure 1: Loan Calculator Worksheet Date 5. S. LO Loan Am Amate Interest Rate La Priyan Loan ere the Startete Future 13.000 0.000 New Office Building Loan Calculator 9/15/2021 Rate Property Charles Street Temahe $1,650,000 Monthly Payment 2014. > Down Payment 5 230,000 Total $ 0.1 Lanmount 5 220.000 Total Com $1.601.23 10 vary tem 11 Rate 7,014 130 11 11 2.5 4.7.10 14 4.00 MOS 6.12.20 5.50 15 4.15 10 S. 90435 5 6.220.63 3. 17 4,75 515 8.35 TOSOS 4.59 9.9.25 7.14 5.1.23 20 2015 7.10 $ WS 7,165 . 9.00 TIS 7.2016 5,995.00 9,73956 7.2305 20 5.09 2.780.93 7.29.295 . 5.11 22 2. L WAT 5 cos 5 5 CWS W V nal Figure 2: Equipment Loan Worksheet Equipment Loan med Ware Number of www Most Wantes et tar S. SU S S St. UMS, ni. Su . www.ee . SSSSSEMESO SE SA 13.46 SUR SA SUS 30 S SUM 5. # 11 . 8 D E F G H New Office Building Z 3 4 Date 5 Property 6 Price 7 Down Payment Loan Amount 4.45% 180 Loan Payment Calculator 9/15/2021 Rate Charles Street Term Months 5 1,150,000 Monthly Payment S 230,000 Total Interest 92000 Total Cost Scenarios Loan Amount Annual Interest Rate Monthly Interest Rate Loan Period in Years Loan Period in Months Start Date Monthly Payment Future Value Renovation $1,020,000 4.45% 0.37% 15 180 1/3/2022 20 Years 5 4.25% 0.35% 20 240 1/3/2022 $ (6,000) $ n/a 8 Years 920.000 4.45% 0.37% 8 96 1/3/2022 (8,000) Rate Varying Interest Rates and Terms Number of Months 120 180 n/a 240 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 3.95% 4.05% 4.15% 4.25% 4.35% 4.45% 4,55% 4.654 4.75 4.85% 4.95% 5.05% 5.15%