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Your company took out an amortizing loan with the following terms: A B 1 Amount 8,000 2 Term (years) 10 3 Interest rate 7% Attempt

Your company took out an amortizing loan with the following terms:

A B
1 Amount 8,000
2 Term (years) 10
3 Interest rate 7%

Attempt 1/3 for 10 pts.

Part 1

Create an amortization table in Excel. What is the outstanding balance at the end of the second year?

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