Question: PLEASE SHOW EXCEL FUNCTIONS FOR EVERY VALUE!!! EG: D7-D8 Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent

PLEASE SHOW EXCEL FUNCTIONS FOR EVERY VALUE!!! EG: D7-D8

PLEASE SHOW EXCEL FUNCTIONS FOR EVERY VALUE!!! EG: D7-D8 Prepare an amortization

Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Loan amount $ Interest rate Loan term 67,500 7% 5 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. Loan payment 1 Year Beginning balance 1 $ 67,500.00 2 3 4 5 Total payment Interest paid Principal paid Ending balance $ 16,462.62 $ 4.725.00 16,462.62 16,462.62 16,462.62 16,462.62 Total interest naid Sheet1

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