PLEASE I NEED HELP ASAP WITH THE FORMULAS TO COMPLETE THE EXCEL TABLE

5. (3.5 points) You took an interest-only $30,000 5-year loan at an interest rate (APR) of 8% per year. One year later, the interest rate drops from 8% to 7%. The renancing cost is $800. a. (1 point) Complete an amortization table of the original loan. b. (0.5 point) What is the contractual value of the loan in Year 1? c. (0.5 point) What is the market value of the loan in Yearl? d. (0.5 point) What is the amount of gain/loss from renancing in Year 1? 0 Should you renance the loan? Explain why. e. (1 point) Complete an amortization table of the new loan still an interest-only loan but at 7%. F K A B C D E G H M Loan amount 30,000 New loan interest 2 Interest rate (APR) 8.0% rate (APR) 7.0% Refinancing 3 Loan term (years) 5 costs 800 5 a) Amortization table of original loan Formulatext Loan Loan Loan Interest Principal Loan ending Interest Principal Total Year beginning Total payment beginning ending payment repayment balance payment repayment payment balance balance balance 0 00 UI AWN - 10 b. Contractual value 14 at the end of year 1 15 c. Market value at 16 the end of year 1 17 d. Gain from 18 refinancing at year 1 19 20 21 e) Amortization table of the new loan Loan Interest Principal Loan ending Year beginning Total payment payment repayment balance balance UT A W N D Grading Q1. Q2-a. Q3 Q4 Q5 26 Q7 +