Intro

Your company took out an amortizing loan with the following terms:

Part $1$

What is the annual payment on the loan $($as a positive number$)?$ Use Excel's PMT$0$ function.

Part $2$

Create an amortization table in Excel. What is the outstanding balance at the end of the first year?

Part $3$

What is the outstanding balance at the end of year $20?$

Part $4$

What is the outstanding balance at the end of year $30?$