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Problem 2. You buy a new car and take out a 4 year $27,500 loan at 3.0% interest compounded monthly. Compute your monthly payment and

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Problem 2. You buy a new car and take out a 4 year $27,500 loan at 3.0% interest compounded monthly. Compute your monthly payment and Construct an amortization schedule. Use EXCEL or some other spreadsheet. See the Excel Spreadsheet Manual (on blackboard and My Mathl ab) Chapter 7 part g. Amortization Scheduies on pages 35-36. Monthly Number of Monthly Principal Interest Rate Interest Rate PaymentsPayment Annual Amortization Schedule Payment Number Applied to BalanceBalance Payment 0 Interest 2 4

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