The production of polyamide from raw materials of plant origin, such as castor oil, requires 20% less fossil fuel than conventional production methods. Darvon Chemicals borrowed $6 million to...

The production of polyamide from raw materials

of plant origin, such as castor oil, requires 20% less

fossil fuel than conventional production methods.

Darvon Chemicals borrowed $6 million to implement

the process. If the interest rate on the loan is

10% per year (on unrecovered balance) for

10 years, what is the amount of interest for year 2?

Also, write the spreadsheet function that displays

this same amount.