Use a spreadsheet to create amortization schedules for the following five scenarios. What happens to the total interest paid under each scenario? a. Scenario 1: Loan amount: $1 million Annual rate: 5...

Use a
spreadsheet to create amortization schedules for the following five scenarios.
What happens to the total interest paid under each scenario?
a. Scenario 1:
Loan amount: $1 million
Annual rate: 5 percent
Term: 360 months
Prepayment: $0
b. Scenario 2: Same as 1, except annual rate is
7 percent
c. Scenario 3: Same as 1, except term is 180
months
d. Scenario 4: Same as 1, except prepayment is
$250 per month
e. Scenario 5: Same as 1, except loan amount is
$125,000