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Recreate the amortization table on the previous slide using Microsoft Excel. The table includes the necessary formulas. Use Excel for calculating the monthly payment, interest

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Recreate the amortization table on the previous slide using Microsoft Excel. The table includes the necessary formulas. Use Excel for calculating the monthly payment, interest payment and total payment. Amortization Table Total Payment Interest Payment $10,000.00 Principal Payment $1,637.97 $2,637.97 $836.20 $1,801.77 $2,637.97 $656.03 $1,981.95 $2,637.97 $457.83 $2,180.14 $2,637.97 $239.82 $2,398.16 $2,637.97 Total $3189.87 $10,000.00 $13,189.87 Cash Terminology P.= value of the money at the present P= value of the money at end of time "t" n = number of interest periods i = interest rate per period F = future value of a present sum of money A = Annuity, a series of consecutive, equal, end-of-period amounts of money G = gradient, uniform increase each year Equivalence: Interest Rate and Time -$1,000,000 Amount Invested (one time) Compounding Period Duration Monthly 4 Years Interest Rate 8% Value at End of 4 years $1,375,666.10

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