Question: Show the excel formulas used to answer the question ES If you take out an $10,000 car loan that call for 60 monthly payments at

Show the excel formulas used to answer the question

ES If you take out an $10,000 car loan that call for 60 monthly payments at of $250 each, what is your APR? What is the EAR? PV of loan Loan period Imonths Monthly payment Interest rates No. of compounding times per year Monthly rate APR EAR Ex. 6 Prepare an amortization schedule for the loan given in Ex 5. Draw a chart of interest payments and principal repayments. Month Beginning Balance Payment Interest pmt Principal pmt Ending Balance

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