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You get a car loan for $16,000 at an annual interest rate of 7%, which requires 5 annual payments. Draw a loan amortization chart, which
You get a car loan for $16,000 at an annual interest rate of 7%, which requires 5 annual payments. Draw a loan amortization chart, which details the payment, interest and principle each year of the loan. Replicate the chart in Excel using monthly payments.
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