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PLEASE EXPLAIN USING EXCEL ONLY Your company has just taken out a 2-year installment loan for $23,080 at a nominal rate of 7%, with equal

PLEASE EXPLAIN USING EXCEL ONLY

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Your company has just taken out a 2-year installment loan for $23,080 at a nominal rate of 7%, with equal end-of-month payments. What is your outstanding balance after your second payment is made (end of second month)

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