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Enter a formula in cell B13 that uses the PPMT function to calculate the principal repaid on the first loan payment. Your formula must return a positive value. If you need to use the values calculated in steps 11 or 12, make sure to reference them rather than recalculating these values in your formula, otherwise marks will be deducted. This also applies to the remaining questions in this worksheet.

Tex \& Edna's Business Loan