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how to find balance using excel? E23 X fx B D F G 4 00 G NO Range 5 Genral Input: Names 6 Total Cost

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E23 X fx B D F G 4 00 G NO Range 5 Genral Input: Names 6 Total Cost $15,000.00 Totalcost 7 Down Payment $3,000.00 Down Da 8 APR(%) 7 APR 9 Payments Per Year 12 PPY 10 Number of Years 5 Years 11 12 Preliminary Calculation: Equations 13 Amount of Loan $12,000.00 Loan Totalcost-Down 14 Periodic interest 0.00583333 i -APR/100/PPY 15 Total Periods 60 n =PPY"Years 16 Payments $237.61 A =Loan*((1+(1+1)^n)/((1+1) An-1)) 17 18 Totals: 19 Total Paid $17,256.86 =n*A+Down 20 Total Interest $2,256.86 =n* A-Loan 21 Payment 22 Number Payment Interest Balance Prinicipal 23 1 $237.61 $70.00 $167.61 24 $237.61 25 3 $237.61

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