Exercise 2.9 modified: Eneros Inc. is buying a new machine for $450,000. The life of the machine is 10 years, and a bank is ready to finance the entire amount at a rate of 10% per year. The bank would...

Extracted text: Exercise 2.9 modified: Eneros Inc. is buying a new machine for $450,000. The life of the machine is 10 years, and a bank is ready to finance the entire amount at a rate of 10% per year. The bank would like Eneros to pay back interest due on the loan, and the loan amount broken into 10 equal payment of $45,000 per year. i.e. Pay interest due at end of each year PLUS $45,000 principle payment per year. a. Please create the scenario in excel. b. Please create an equivalent scenario by stating your assumptions