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On a spreadsheet, set up a monthly amortization schedule for a 3-year car note of $20,000. The annual interest rate on this loan is 7%.

On a spreadsheet, set up a monthly amortization schedule for a 3-year car note of $20,000. The annual interest rate on this loan is 7%. Calculate the monthly payment.

What is the beginning loan balance on the 24th month?

What is the ending loan balance on the 30th month?

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