Problem
Develop a general-purpose spreadsheet to calculate the balance due, principal payment, and interest payment for each period of a loan. The user inputs to the spreadsheet will be the loan amount, the number of payments per year, the number of years payments are made, and the nominal interest rate. Submit printouts of your analysis of a loan in the amount of $15,000 at 8.9% nominal rate for 36 months and for 60 months of payments.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.