Create an amortization table from the template for a $32,000 loan, at 5% APR, to be repaid in 5 years.

Use the amortization table to calculate how much interest is charged.

Make a graph (chart) using the number of months and the new balance.




Create a second amortization table, (you could duplicate your previous table, you might have to tweak some small things afterwards.) Suppose they made regular payments of $850 instead. After how many months would they finish paying off the loan? Highlight this answer in light blue in your amortization table.
Continuing with your table from number 4, how much interest would they pay for this situation?