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This is an excel problem. Could you also provide the cell equations if at all...

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Question

Accounting

This is an excel problem. Could you also provide the cell equations if at all possible? Months remaining is 96

Basic Loan

Financial Stress and Forbearance

Amount Needed

$35,000.00

2 Years into loan hit 6 month pause button

Fee Percent

1.06%

Interest accrues - no payment made

Fee

$371.00

Loan Amount

$34,629.00

Balance at 2 years

Annual Interest Rate

6.20%

6 months Interest

Term-Years

10

New Balance

# of monthly Payments

Payment

Months remaining

New Payment

Total Cost of the Loan

Paid before pause

Period#

Interest

Balance Reduction

Loan Balance

Paid after Pause

0

New Cost of the Loan

1

2

Added Cost

3

4

5

6

7

8

9

10

Answer & Explanation Solved by verified expert
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