Please do this in excel$)$ A loan of $$22,000$ is incurred today and is to be paid off over $4$ years. The

annual interest rate is $7\mathrm{.}5\%,$ compounded monthly. Payments are made monthly.

a$.$ Using Excel, what is the monthly payment?

b$.$ Using Appendix A in the book, page $646,$ calculate the correct factor to $8$

decimal places, and verify the monthly payment.

c$.$ After $24$ payments have been made, what is the remaining principal balance?

d$.$ After $24$ payments have been made, how much interest has been paid on the loan?

e$.$ If the loan is paid until maturity, how much interest will be paid on the loan?