You borrowed $$9,100\mathrm{.}00$ from the bank. You agreed to repay the loan by making equal monthly

payments for $4$ years. Interest is $9\%$ compounded monthly.

Prepare an amortization schedule in the MS Excel showing details of the payments, and totals.

Answer the following:

a$)$ What is the size of the monthly payments?

b$)$ How much will the loan cost you?

c$)$ How much will you owe after $16$ months?

d$)$ How much interest will you pay in your $26$th payment?

e$)$ How much of the principal will be repaid in the $18$th payment?

The schedule needs to have the following headings:

Payment

Number

Amount

Paid Interest Paid

Principal

Repaid

Outstanding

Principal

balance