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You borrowed $50,000 for your business today with an interest rate of 7.5%. Your first of five (5) equal annual payments on this loan will

You borrowed $50,000 for your business today with an interest rate of 7.5%. Your first of five (5) equal annual payments on this loan will be made one year from now.

PLEASE SHOW ALL EXCEL FORMULAS/FUNCTIONS

(A) What is your annual payment on this loan?

(B) Create an amortization table for this loan. The headings and periods (years) for the amortization table are provided below.

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