Requiremeht1 Complete the data table DATA Loan Amount Interest Rate Periods 35,000 6% Requirement 2 Using the present value of an ordinary annuity table, calculate the payment amount and complete the amortization schedule Use the effective interest amortization method. a. Calculate the loan payment by dividing the loan amount by the appropriate present value factor b. Round values to two decimal places. Calculate the interest expense in the third year as the loan payment minus the loan balance at the beginning of the third year Use absolute cell references and relative cell references in formulas. C. Payment (uslng PV table) Present Value of an Ordinary Annuity of $1 Beginning Balance InterstTotal Payment Balance Expense Ending Principal Payment 6% 890 10% 0.9091 1.7355 2.4869 3.1699 .7908 Period 0.9434 1.8334 2.673 3.465 4.2124 0.9259 1.7833 2.5771 3.3121 .9927 Total Requirement 3 Using the Excel PMT function, calculate the payment amount and complete the amortization schedule. Use the effective interest amortization method. a. The PMT function calculates a payment amount that results in a negative number. Reverse this to a positive number for calculations in the amortization schedule b. Round values to two decimal places. Calculate the interest expense in the third year as the loan payment minus the loan balance at the beginning of the third year c. Use absolute cell references and relative cell references in formulas. Payment (using PMT function) Beginning Balance Principal Payment Ending Balance Interest Period Total Payment Expense Total