Use the attached template file with sample results to prepare two versions of dynamic amortization without creating an actual amortization table:

1) using formulas in cells based on your knowledge of time-value-of-money algebraic formulas

2) using excel's built-in finance functions (including those specific functions for amortization)

Please show functions used!

Amortization Results Using TVM Algebraic formulas Using Excel's built-in Functions Balance paid during 36 months Remaining balance after 36 months Total interest paid during 36 months Total interest to be paid after 36 months Remaining balance after 72 months C D E F Amortization Results 1 Inputs Outputs Dynamic Amortization without Cashflow Tables 2 3 Loan Details 4. Principal $150,000 5 Interest rate 12.50% 6 Loan term (years) 6 7 Payments per year 12 8 Payment frequency monthly 9 Payment per month 10 Amortization results after 11 Number of months 36 12 13 B 14 1 Inputs Outputs 15 Dynamic Amortization without 16 17 2 Cashflow Tables 18 3 Loan Details 19 4 Principal $100,000 20 5 Interest rate 7.00% 21 6 Loan term (years) 6 22 7 Payments per year 12 23 8 Payment frequency monthly 9 Payment per month 1,704.90 24 10 Amortization results after 25 11 Number of months 36 26 27 28 Dynamic Amortization without 29 Cashflow Tables 30 31 Loan Details 32 Principal $150,000 Interest rate 33 12.50% 34 Loan term (years) 6 35 Payments per year 12 36 Payment frequency monthly 37 Payment per month 2,971.68 38 Amortization results after Number of months 36 39 Balance paid during 36 months Remaining balance after 36 months Total interest paid during 36 months Total interest to be paid after 36 months Remaining balance after 72 months Using TVM Using Excel's Algebraic built-in formulas Functions 44,784.30 44,784.30 55,215.70 55,215.70 16,592.13 16,592.131 6,160.72 6,160.72 0.00 0.00 Amortization Results Balance paid during 36 months Remaining balance after 36 months Total interest paid during 36 months Total interest to be paid after 36 months Remaining balance after 72 months Using TVM Using Excel's Algebraic built-in formulas Functions 61,170.26 61,170.26 88,829.74 88,829.74 45,810.10 45,810.10 18, 150.63 18,150.63 0.00 0.00