Please, if possible use Excel formulas, cell references, & horizontal timelines to show all work.

Crab State Bank has offered you a $500,000 5-year loan at an interest rate of 9.75 percent, requiring equal annual end-of-year payments that include both principal and interest on the unpaid balance. Develop an amortization schedule for this loan. Round your answers to the nearest dollar. Do not round intermediate calculations.

End of Year	Payment	Interest (9.75%)	Principal Reduction	Balance Remaining
0	-	-	-	$500,000
1	$	$	$
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Develop an amortization schedule for this loan. Round your answers to the nearest dollar. Do not round intermediate calculations