Problemon a spreadsheet set up a monthly amortization, Ask an Expert

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Problem:

On a spreadsheet, set up a monthly amortization schedule for a 3-year car note of $20,000. The annual interest rate on this loan is 7%. Calculate the monthly payment.

Required:

Question: What is the beginning loan balance on the 24th month?

Question: What is the ending loan balance on the 30th month?

Note: Provide support for your rationale.

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Category:- Basic Finance
Reference No.:- M91148915

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