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1 . In Scenario 3 , Darius wants to know the total amount spent for a loan of $ 7 5 0 , 0 0

1. In Scenario 3, Darius wants to know the total amount spent for a loan of $750,000 at an annual interest rate of 3.95 percent and a monthly payment of $15,000.
Calculate the future value of the loan for Darius as follows:
a. In cell D10, enter a formula using the FV function to determine the future value.
b. In the formula, use the monthly interest rate (cell D7) as the rate, the term in months (cell D8) as the nper, and the monthly payment (cell D9) as the pmt.

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