9. Explain the amortization table in details where you demonstrate at the same time your...
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Accounting
9. Explain the amortization table in details where you demonstrate at the same time your work in the EXCEL file in the sheet named LOANS. Set up your work that provides calculations for a loan indicating the remaining principal value of a loan for each period, the payment of a loan at every period, the interest that is paid for this period as well as the amount that is reducing the principal,
and the remaining amount of the loan. Set up a loan that it is calculated for 15 years, where it is paid monthly where your given interest rate is annual. Provide the alternatives that the monthly payment could be equal to what a PMT function defines. Discuss the usage of the PMT function. Furthermore, explains what would happen in the case that your monthly payment is less than what the PMT function defines, but more than the interest of the first period, if the monthly payment is just the interest, if the monthly payment is less than the interest of the first period, or if the monthly payment is nothing.
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