What is the annual payment (as a positive number)? Use Excel's PMT( ) function. 585.46 Correct A B 1 Amount 9,000 2 Term (years) 30 3 Interest rate 5% 4 Annual payment 585.46 =PMT(B3,B2,-B1) The function is: PMT(rate, nper, pv) Enter the present value of the loan (the loan amount) as a negative number to get a positive payment, or vice versa. 1 Attempt 1/10 for 10 pts. Part 2 Create an amortization table in Excel. What is the outstanding balance at the end of the first year? 8,864.54 Correct A B D E F 6 Year Beg. balance Payment Interest paid Principal paid End. balance 711 9,000 585.46 450 135.46 8,865 00 8 =B1 =B$4 =B7*B$3 =C7-D7 =B7-E7 Part 3 | Attempt 1/10 for 10 pts. What is the outstanding balance at the end of year 20? 0+ decimals Submit