Enter a function in cell H12, based on the payment and loan details, that calculates the amount of cumulative principal paid on the first payment. Be sure to use the appropriate absolute, relative, or mixed cell references.
Facility Amortization Table 4 Loan Details Payment Details 6 Payment 7 APR 8 Years 9 Pmts per Year 10 $4,972.00 3.25% Loan Periodic Rate # of Payments $275,000.00 0.271% 60 12 Beginning Payment Principal RemainingCumulative Cumulative Payment Number Interest Principal Balance Amount Interest PaidRepayment Balance $275,000.00 $4,972.00 ($89.89) 12 13 14 15 16 17 18 19 20 21 4 6 10 23 24 25 26 27 28 12 13 14 15 16 17