Question: provide excel function to solve all wrong answers. Student Work Area Required: Provide input into cells shaded in yellow in this template. Use the PMT
Student Work Area Required: Provide input into cells shaded in yellow in this template. Use the PMT function with cell references to the Problem area and use mathematical formulas with cell references to the Problem area or work area as indicated for transactions on: PMT: Formula: Subtract, Multiply: Cel referencing Excel to Calculate Loan Payments and Prepare Entries for Long- 4 lotes Payable PROBLEM igine issues a 10-year mortgage loan to obtain financing on a new 7 on December 31, 2022 with the following information: Mortgage loan amount $ 300,000 20 Annual interest rate 10% 11 Loan term in years 10 12 Annual installment payment 130.196 14 he annual mortgage payment amount using Excel's PMT function So the entry to record the mortgage loan on December 31, 2022 irst installment payment 1 ember 31, 2023 Verification of payment using PMT 130.196 13 Partial amortization schedule to aid in journal entries Interest Cash Interest Reduction of Principal Period Payment Expense Principal Balance Dec 31, 22 $ 000 000 Dec. 31,23 130,1903 30,000 50100 749.00 18 12 30 21 32 Credit Date 12/3122 Debit 100.000 Cash More 800,000 12/31/23 10.000 SO 100 More lo 1101 26 20 20 27
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