Question: can someone explain how to solve this using excel? d. Suppose that you borrow $20,000. The interest rate is 6%, and it requires 4 equal
d. Suppose that you borrow $20,000. The interest rate is 6%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Refer to Slide \#43. \begin{tabular}{|l|r|r|} \hline Original amount of mortgage: & $20,000 & \\ \hline Term to maturity: & 4 & \\ \hline Interest rate: & 6% & \\ \hline \end{tabular} First, find annual payment (PMT): Show the Amortization Schedule below
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