Question: Please show all work and all logic in how you worked the problem. Please us excel if possible. Will rate thumbs up! Please show formulas

Please show all work and all logic in how you worked the problem. Please us excel if possible. Will rate thumbs up! Please show formulas as well.

Suppose you borrowed $9000 at a rate of 5 percent and must repay it in 8 equal installments at the end of each of the next 8 years. How much would you still owe at the end of the first year, after you have made the first payment? Your Answer: Answer units

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