Redo the problem if the interest rate is 2% (for a well designed spreadsheet this should take 30 seconds) Required: 5. What is the onnual payment (round to the nearest $? 6. What are the total interest payments (round to the nearest $? 7. After 17 payments have been made, what percentage of the total interest has been paid round to the nearest percentage point?
8. After 17 payments have been made, whot percentage of the total principal has been paid fround to the nearest percentage point?