in 2022 ABC Company entered into 10 short term car rental agreements. Each car was rented from a national car rental company by employees on out-of-town business trips. The duration of each short term car rental was 15 or fewer days. Each rental agreement was paid at the beginning of the lease. Payments totaled $20,000 in 2022. The cars had an estimated useful life of 5 years and an estimated fair value of $50,000 each

use excel and PV tables. Please show excel formulas.

Date Payment Effective Decrease in Outstanding Interest Balance Balance Date Payment Effective Decrease in Outstanding Interest Balance Balance