Amanda purchased a car for $28,000. She made an initial down payment of $4,000 and borrowed...

1. What is the outbalance for her car loan?

2. Using an excel spreadsheet to calculate Amanda’s monthly car payment.

3. Prepare an amortization table for this loan.

4. How much did Amanda pay in total on the interest component during the 5-year period?

PLEASE SHOW IN EXCEL, PLEASE SHOW EQUATIONS USED! THANKS

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