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Mrs. Shields had to take out a $100,000 loan from the bank to get the...

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Mrs. Shields had to take out a $100,000 loan from the bank to get the resources needed to produce milk from her farm, and the bank loan had a 7.2% annual interest rate that compounds monthly. She will have the loan paid off 10 years from now because she will pay a periodic amount every month for the next 10 years to pay off this $100,000 present value. a) How much money will Mrs. Shields have to pay each month to pay off the loan in 10 years? (8 points) b) Create an amortization schedule similar to the one below to determine how much interest will accumulate in this loan over the next 6 months: (12 points) Month Interest Payment Principal 0 100,000 1 2 3 4 5 6 c) How much interest will be accumulated after the end of these 6 months? (5 points)

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