Question: Please help out with this problem, thanks in advance! 11. Use Excel to develop an amortization table for a loan of $10,000 to be paid
Please help out with this problem, thanks in advance!

11. Use Excel to develop an amortization table for a loan of $10,000 to be paid back in 60 equal monthly payments with an interest rate of 6% compounded monthly. The first payment will occur at EOM1. Use the following column headings for your spreadsheet Principal Owed (EOM) 10,000 Principal Owed Interest in Pmt Principal in EOM (Payment #) Payment --(BOM) Pmt 10,000 Your spreadsheet should be set up to be easily 'generalized.' In other words, you should be able to change the interest rate of the loan, the amount borrowed and the payment by changing one cell for each
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