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Construct an excel spreadsheet to show the repayment of a $3000 loan if the annual interest rate charged was 5.25% compounded monthly. The loan was

Construct an excel spreadsheet to show the repayment of a $3000 loan if the annual interest rate

charged was 5.25% compounded monthly. The loan was paid back in 12 monthly payments of

$257.17. What was the total in interest paid over the 12 months?

Fill in the rows for payment periods 0, 1, 11, 12.

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