Question: please include excell formulas/steps/directions for each part and where i should input the formulas. dont just give answers. it would probably be best if you
513 You borrow money on a self liquidating instalent loan (equal payments at the end of each year, each payment is part principal part interest) Loan $442,000 Interest Rate 13.20% Life (years) Date of Loan January 1, 2020 5 9 Use the installment method - not straight line 30 Do NOT round any intermediate numbers. 11 Do NOT turn this into a monthly problem. 13 a) What is the annual payment? 14 b) What are the total interest payments? 15 c) After 35 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? 16 d) After 35 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)? 17 18 Redo the problem if the interest rate is 1.00% 20 (for a well designed spreadsheet this should take 30 seconds) 22 e) What is the annual payment? 23 What are the total interest payments? 24 ) After 35 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? 25 h) After 35 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)
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