Please use VBA to solve:

Build a loan calculator subroutine that will display the total interest paid over the life of a loan. Make this interactive so that the user will be prompted for:

• The loan Amount
• The number of Years
• The frequency (number of payments per year)
• The interest Rate (APR)

You will need to determine how much of each payment goes toward interest and then sum the interest up.

Set your default loan amount to $100,000

Set the default term to 15 years

Set the default frequency to 12 payments per year

Set your default interest rate to 5% APR

Hints:

You will need 4 input boxes

You can solve mathematically or utilize the Excel function IPMT to solve for the interest portion of the payment each period.

Then total the interest payments up using a loop.

In a message box, output two things:

• the total amount of all the payments
• the total interest paid over the life of the loan