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Prepare a loan amortization schedule? You would like to buy a new car and will need to borrow $18,000 to do so. Your loan will

Prepare a loan amortization schedule?

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You would like to buy a new car and will need to borrow $18,000 to do so. Your loan will be repaid monthly over 5 years at a 7% annual interest rate. Calculate your monthly payment. translate to monthly translate to monthly N (period of time) I (Interest) PV (Present Value FV (Future Value) PMT (Annuity) determine payment Prepare the loan amortization schedule. Monthly Period Payment 0 Interest Expense Principal Payment Principal Balance

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