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You need to calculate the interest owed for each year the loan has been disbursed. Begin with the Freshman year loan. In cell B8, multiply

  1. You need to calculate the interest owed for each year the loan has been disbursed. Begin with the Freshman year loan. In cell B8, multiply the amount of loan (B5) by the interest rate (B6) to calculate the interest owed after Year 1. This is the accumulated interest for the first year and needs to be added to the amount of the loan to determine what Carl owes after the first year.

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