Problem 2 (Go to sheet 2) In this problem you will build an amortization table for a three year Plasma TV loan . Begin your spreadsheet by entering the following : A2: Plasma TV Loan Make this entry bold with a font size of 16. A4: Loan Term (years ) B4: 3 A5: Purchase Price B5: $1895 A6: Down Payment B6: (compute 20% of the purchase price ) A7: Loan Amount B7: (compute the loan amount ) A8: APR B8: 7.2% A9: Monthly Payment B9: (use PMT formula to compute ) Begin building your amortization table by entering the following headings in All through E11: Payment Number Monthly Payment Amount of Interest Amount of Loan Balance Paid Principal Paid Enter : A12: 0 E12 : (the amount you computed in B7 goes here) A13: 1 Use the counting feature in column A to number the rows for three years ' worth of monthly payments B13: (The payment goes here . You must type the amount in this cell . Do not use a cell reference ) C13: (Compute the first month's interest by multiplying the previous loan balance by APR ) D13: (compute the amount of the monthly payment that will be applied to principal and thus reduce the loan balance after interest has been paid ) E13: (compute the new loan balance ) Highlight cells B13 through E13 and drag the formulas down to complete the table . If your ending balance is not zero , you need to adjust the final payment amount so that the loan will be paid exactly . Finally , determine the total of the monthly payments and the total interest paid using the SUM function A49: Total payments B49: (=SUM (highlight the values in the payment column )) B50: Total interest paid C50: (=SUM (highlight the values in the interest column ))