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Excel Project Part #1 Establish loan amortization schedules for the following loans to the nearest cent. Use the built-in PMT function in Excel utilizing cell

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Excel Project Part #1 Establish loan amortization schedules for the following loans to the nearest cent. Use the built-in PMT function in Excel utilizing cell references within it whenever possible: (A) Kayti Schumann has just moved to Cincinnati and is buying her first condo for $196,000. She is putting 20% down, and will finance the balance with a 25-year mortgage loan of 8.7% annual compound interest rate with equal installment payments at the end of each year. Hint: If you set up the amortization schedule correctly using absolute cell references (S), you should be able to "copy" the row containing Year 1 information down through the remaining years. Excel Project#1 Part A Schumann Gondo mortization Schedule Inputs Loan amount- Term (in years) --w- Payment per year- Principal Amount Owing Installment Annual Principal Payment End of Year 5 9 10 12 13 14 15 16 17 18 19 20 21 23 24 25

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