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i need an explanation how to do this on excel Homework Problem In chapter 3, we discussed Repaying a Debt, Plan #3: Constant Payment Using
i need an explanation how to do this on excel
Homework Problem In chapter 3, we discussed Repaying a Debt, Plan #3: Constant Payment" Using the same understanding, develop an Amortization Plan for the data provided on the following two sheets. The amortization table (the outcome) is given to you on the next-to-next sheet. Your homework submission must be MS Excel Sheet and you need to set up the sheet so that all the values in the columns of Interest, Principal and Balance Due should be derived from a formula. Typed numbers will not get you any points. Build Amortization Table . Borrow $4000 N= 5 years ii = 10% Equal annual payments A= Output of Amortization Table 4000 Amount borrowed 5N 10% i $1,055.19 payment Period Interest Principal 0 1 400.00 334.48 262.41 183.13 95.93 2 3 4 Balance Due 4000.00 3344.81 2624.10 1831.32 959.26 0.00 655.19 720.71 792.78 872.06 959.26 5Step by Step Solution
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