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home healthcare has just borrowed $2,000,000 on a five-year, annual payment term loan at a 15...

home healthcare has just borrowed $2,000,000 on a five-year, annual payment term loan at a 15 percent rate. the first payment is due one year from now. construct the amortization schedule for this loan

please explain using PMT in excel format. I need to input this into excel

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Answer #1

=PMT(rate,nper,pv,fv,type)

Rate =Interest Rate

Nper=Number of period

Pv=Value of Loan

Fv=Value of loan at end =0

Type =0

=PMT(15%,5,-2000000)

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