Question: Which excel function do you use to find the interest applied to the amount of outstanding balance for month 2 You charge this amount You

Which excel function do you use to find the interest applied to the amount of outstanding balance for month 2

You charge this amount You make 2% monthly payments Next months bill plus interest on balance Dept = $10,000 Interest Rate = 17% APR of your outstanding balance 12 0.07 Minimum Monthly Payment: 2% of outstanding debt 0.02 When the outstanding balance

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