Suppose that you borrowed $$25,000$ student loan. Once you graduate, you are required to start paying your loan and interest. The APR for your loan is $5\mathrm{.}54\%.$

Each month you will have to make interest payment and principal repayment.

Suppose that you can choose the following two repayment plans:

$-$Standard repayment plan: if you choose this plan, you will have to pay off your loan in $10$ years with the same amount of payment each month.

$-$Fixed extended repayment plan: if you choose this plan, you will be allowed to pay off your loan in $25$ years with the same amount of payment each month.

$1.$ Please use Excel to work on the following questions:

$$ How much should you pay each month for these two plans?

$$ Set up the loan amortization tables for these two plans.

$$ How much interest will you pay in total when you pay off your loan for these two plans?

$2.$ Write a short memo to summarize your results obtained in the first question and discuss which repayment plan you would like to choose.