Prepare a loan amortisation schedule to show the month-by-month reduction in the out-standing loan balance to zero. using the following detailed steps: a) Starting at cell Al2, create month labels in terms of integers (e.g.. 1. 2, 3, …) in column A by using a new row for each month of the loan. b) Calculate the corresponding balance at the beginning (column B) and at theend of each month (column E) using formulas that reference cell locations. c) Show the monthly interest paid by month (as a positive amount), in column C referencing cell locations as inputs to your formula. d) Show the monthly principal paid by month (as a positive amount), in column D referencing cell locations as inputs to your formula. e) Note that the dollar amounts in columns C and D are occurring at the end of the month, whereas the balance amounts in columns B and E are defined clearly in the column headings of the schedule.
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