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Please use excel, need help with functions because I am only used to using a financial...

Please use excel, need help with functions because I am only used to using a financial calculator, thanks!

You just took a $25,000, five-year loan. Payments at the end of each year are flat (equal in every year) at an interest rate of 12%. Calculate the appropriate loan table, showing the breakdown in each year between principal and interest.

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Answer #1

Loan = $ 25000, Interest Rate = 12 % and Tenure = 5 years

Let the equal repayments be $ K

Therefore, 25000 = K x (1/0.12) x [1-{1/(1.12)^(5)}]

K = $ 6935.24

TIME Opening Balance Interest Expense Annual Repayment Principal Repaid Closing Balance 25000 21064.76 16657.29 11720.93 6192.20 3000 2527.77 1998.87 1406.51 743.06 6935.24 6935.24 6935.24 6935.24 6935.2 3935.24 4407.47 4936.37 5528.73 6192.18 21064.76 16657.29 11720.93 6192.20 0.00 4 4TIME Opening Balance Interest Expense Annual Repayment Principal Repaid Closing Balance 25000 (0.12 B2) (0.12 B3) (0.12 B4) (0.12 BS) (0.12 B6) -6935.24 -6935.24 -6935.24 -6935.24 -6935.24 D2-C2) D3-C3) D4-C4) D5-C5) D6-C6) B2-E2) B3-E3) B4-E4) #85-ES) F3 -F4

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