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Can you help me solve this problem using excel? On December 1, Year 1, Bradley Corporation incurs a 15-year $200,000 mortgage liability in conjunction with

Can you help me solve this problem using excel?

On December 1, Year 1, Bradley Corporation incurs a 15-year $200,000 mortgage liability in conjunction with the acquisition of an office building. This mortgage is payable in monthly installments of $2,400, which include interest computed at the rate of 12% per year. The first monthly payment is made on December 31, Year 1.

Refer to the information above. Compute the total amount to be paid by Bradley over the 15-year life of the mortgage and how much of the first payment made on December 31, Year 1, represents interest expense?

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