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Please show how to use formulas for the amortization schedule. On January 1,2022 the Company borrows $230,000 cash by signing a 9-year, 10%, installment note,
Please show how to use formulas for the amortization schedule.
On January 1,2022 the Company borrows $230,000 cash by signing a 9-year, 10%, installment note, with annual interest payments. 1) Calculate the amount of each payment using the PMT function. 2) Prepare the amortization schedule for the loan. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. 1) What is the amount of each annual loan payment? The PMT function must be used, and formula must return a positive value. 2) Complete the amortization schedule for this note. All formulas must return a positive value. Your formula is incorrectStep by Step Solution
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