Financial Functions: Loan Payments This portion of the assignment will utilize the following worksheets within the module assignment workbook. Task 7_Financial Prac Task 7 The following are instructions for creating loan

payment models in Excel This section is practice for constructing loan payment models. 1. Open the assignment Excel workbook to the worksheet "Task 7_Financial Prac 2. Read the "Instructions." The instructions provide you an overview of the components required in the task. 3. Review the Problem Statement and Table provided in the "Variables" section. 4. Complete the following steps Model formulation steps in the "Model" section. Model Formulation Steps 5. Convert loan structure 6. 7. 8. a. Calculate the loan structure for Quarterly and Monthly Monthly payment a. Using the monthly loan structure, calculate the monthly payment. Principal payment a. Using the monthly loan structure, calculate the monthly principal amount for payment #10. Interest payment a. Using the monthly loan structure, calculate the monthly interest amount for payment # 20. 9. Interest rate for a payment a. Using the quarterly loan structure, calculate the interest rate for a payment of $4000. 10. Number of required payments a. Using the quarterly loan structure, calculate the number of payment periods for a payment of $4000. 11. Future value of payments a. Using the monthly loan structure, calculate the future value for a monthly payment of $1100 and $1200 12. Lender perspective a. From perspective of the lender and using the quarterly loan structure, calculate the NPV and IRR for each of the payment amounts given the payment specified in the NPV and IRR Table. 13. Task 7 is complete.