Question: Select one from the following to calculate payment using the PMT formula: 17) If you borrow $50,000 at an annual interest rate of 12% for

Select one from the following to calculate payment using the PMT formula:

17) If you borrow $50,000 at an annual interest rate of 12% for six years, what is the annual payment on a fully amortized loan? Prepare an amortization schedule in Excel.

18) If you borrow $50,000 at an annual interest rate of 12% for six years, what is the monthly payment on a fully amortized loan? Prepare an amortization schedule in Excel.

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