Student instructions: This worksheet is for problem 8-59. Enter formulas in the blanks where indicated to complete the calculations needed for for the loan amortization table PROBLEM 8-59 LOAN AMORTIZATION SCHEDULE Given: AmountBorrowed:Interestrate:$22,0006.0%annually,or0.5000%monthly NOTE: Cell D21 references this amount to find the monthly interest paid r that Excel financial functions are built for annual interest rates and payments so remember to adjust! 2,E13,B24) OR =-PMT(C12/12,C13"12,B24) Remember the negative sign to flip the finance value positive! 'Cause Excel... ion to what happens to the payments of interest and payments of principal over time! pou mostly paying in the beginning versus the end? Why does paying extra early make such a difference? VM = Time Value of Money! Which we'll get to as a specific chapter soon